Newcastle International Airport secured a £208m finance package to power ahead with a number of green projects.
The airport – the 11th busiest in the UK – has sealed the refinance package with four major lenders as part of its commitment to a number of sustainability targets, all in support of its Net Zero Carbon 2035 plan. The finance facilities also include a £15m green loan that will enable the airport to progress the next phases of its solar farm project, as well as its continued transition to electric vehicles.
Its huge solar farm will see a 16MW facility, comprising around 40,000 solar panels on 22 acres of land next to its runway – a move it is hoped will halt 150,000 tonnes of carbon dioxide being pumped into the atmosphere over its 37-year operation. The finance deal sees HSBC UK become a new lender to Newcastle International Airport’s banking club, alongside existing lenders ING, NatWest and Development Bank of Japan (DBJ). The airport said the extension has been agreed well in advance of the expiry of previous arrangements, and has been carried out with the airport’s advisors, NatWest, Allen & Overy, ING and HSBC.
