Investors seek to buy up Green Deal Finance Company assets

09 November by


Article courtesy of Business Green

A number of investors are looking at acquiring part or all of the Green Deal Finance Company (GDFC), after the government refused to extend its senior loan facility earlier this year.

Sources close to the GDFC indicated any fresh investment was unlikely to revive the government's domestic pay-as-you-save (PAYS) energy efficiency financing programme, but could result in the sale of its £50m loan book and back-end systems.

​A spokesman for GDFC confirmed it has been approached by 15 parties since the the government refused to extend the GDFC's senior loan facility four months ago. The move effectively signalled an end to the previous coalition government's flagship energy efficiency scheme. 

However, the Department of Energy and Climate Change (DECC) maintains the framework that enabled the pay-as-you-save scheme could be revived with private investment.

Last week, the GDFC confirmed its loan book was being put into "run-off" as a consequence of the decision and that Mark Bayley would step down as chief executive in December.

READ MORE at Business Green