The investment will enable the company to expand its pipeline for large-scale solar projects and strengthen its position in key international markets. The package includes a facility supported by UK Export Finance (UKEF), which extends Hive’s previous agreement with HSBC and provides greater flexibility to undertake larger projects and unlock new export opportunities.
A separate funding stream will strengthen the company’s working capital and support the day-to-day operations and management of its growing global portfolio.
“We have been looking for this kind of support for a long time, and HSBC UK has delivered where others could not,” said Giles Redpath, CEO of Hive Energy.
“The team’s flexible, tailored approach means we can maintain the momentum behind our pipeline of solar power plants, rather than being held back by the stop-start nature of traditional project financing. That consistency is crucial: it allows us to plan with confidence, scale up delivery and leverage the expertise we’ve built in Britain to expand into new markets around the world.”
Founded in 2010, Hive develops large-scale solar projects, taking them from design to ready-to-build before handing them over to investors and operators. The company has delivered 60 ready-to-build projects in seven countries, totaling 3,066 MW of clean energy.
Last year, the company secured a £19 million bank guarantee facility from Santanderbacked by UK Export Finance (UKEF), to advance its international solar and battery energy storage portfolio. The guarantee supported the delivery of projects in Türkiye, Poland, Croatia and Serbia. UKEF provided support through its General Export Facility scheme, which has given UK businesses access to more than £325 million in working capital since 2020.
