Alliance Homes, has secured a £75m sustainability-linked loan from Lloyds Bank to build 2,000 new homes and hit ambitious sustainability targets and help to tackle fuel poverty and the climate emergency.
The loan will be used to help meet the goals set out in the corporate plan, these include tackling fuel poverty by retrofitting its least efficient homes, investing in our communities, and building more affordable homes.
Lloyd’s Bank will discount the loan subject to Alliance Homes achieving certain sustainability Key Performance Indicators (KPIs). These consist of going beyond government standards for energy efficiency by hitting EPC C on all its stock by 2028, building 2,000 new homes over the next 10 years, and installing 519 new photovoltaic systems to improve energy generation capacity to tackle fuel poverty of its customers.
Lauren Bailey, Relationship Director for Housing at Lloyds Bank, said: “Alliance Homes has recognised the need to invest in housing stock and address environmental challenges. By acting now, they are making the necessary investment that will support their communities into the future. We’re pleased to support the Alliance as it works to meet the challenges the sector faces.”
Katrina Michael, Chief Financial Officer at Alliance Homes, said: “The challenges of addressing the current housing shortage while investing in communities and becoming more sustainable are top of the agenda for social housing providers across the UK. We must address these challenges head-on and meet our responsibility to future-proof our homes with the support of our banking partners.
“This funding will allow us to invest in improving communities across the West of England and we’re looking forward to working with Lloyds Bank to achieve our ambitions.”