Bank of Scotland Corporate's Energy and Environmental Finance team supports solar energy

Bank of Scotland Corporate has struck its fourth solar energy deal this year with the Energy & Environmental Finance team having invested in investment and specialised fund and asset management group, Babcock & Brown.

The €35m loan, over five years, means that Babcock & Brown will be able to buy photovoltaic (PV) modules for use in Southern Europe. These modules, or solar panels, harness the sun's energy and create electricity.

Solar generation is one of the fastest-growing electricity sources worldwide, doubling its output every two years and so makes for an attractive investment.

Ed Wilson, head of Energy & Environmental Finance, said: "This deal further establishes Corporate's credentials as a senior lead arranger in solar renewable financing."

Babcock & Brown is an international investment and specialised fund and asset management group. It was founded in 1977 and operates from 32 offices across Australia, North America, Europe, Asia, United Arab Emirates and Africa, with over 1,400 employees worldwide.