Abundance Investment, a UK based peer to peer lending platform in the renewable energy sector, has just topped £50 million in investment, according to a company report. Management said the “huge” popularity of its IFISA and three highly popular renewable projects from tidal, geothermal and energy efficiency technologies helped to fuel the recent growth. Abundance says three projects have attracted more than £10 million of new investment in less than 2 months.
- Atlantis tidal energy debenture has sold out raising £4.3 million,
- Green Deal bond will close in 4 days’ time and has raised £3.95 million to date
- United Downs Geothermal project has raised 60% of its £3.8 million target (£2.7m) in less than a week.
Bruce Davis, founder and joint MD of Abundance commented on the milestone explaining the IFISA and popularity of the sector drove platform growth;
“The combination of the tax advantages of our ISA and the appeal of supporting these new renewable technologies has clearly turned on our investors, even at this traditionally quiet time of the year for investment. The IFISA wrapper makes our investments an even bigger win for our investors, and this added appeal has made the flow of capital to projects crucial to the UK’s carbon reduction efforts a bigger win for the whole country.”
The first project launched on Abundance in the summer 2012. Abundance’s 27 projects may be grouped into three broad categories; Established, Growth and Construction. The Established category represents the majority of Abundance’s investment offers. As these investments are more mature and thus come with comparatively reduced risk.
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