The company was founded by Triodos Bank in 1995 to provide a way for individuals to invest in, and to stimulate and drive development of, UK renewable energy projects. Over the last two decades Triodos Renewables has grown significantly as a renewable energy company, with 5,700 shareholders and a portfolio of 15 operational renewable projects. With a strong record of generating clean electricity and profits, Triodos Renewables is now at a size where it is able to successfully stand as a fully independent company.
Subject to a shareholder vote, Triodos Renewables will make this move away from Triodos Bank at the end of February 2016. This is a joint decision between Triodos Renewables and Triodos Bank which will enable both companies to flourish independently.
Triodos Renewables Executive Director, Matthew Clayton: “For Triodos Renewables, independence will give us increased agility in an evolving regulatory environment and the potential to engage with the sustainable energy system in new ways.
“On a practical, daily level, little will change for the company and our shareholders. Our shareholder base, assets and operations will remain the same. We will have the same values, vision and dedication to our shareholders, and will be employing the same team of committed and knowledgeable professionals.
“We see this move as a critical step in our future; one that will open doors for the company and enable us to continue to grow the business and our impact, without losing the connections that are so important to our history, and which have been key to our achievements to date.”
Triodos Bank CEO, Peter Blom: “Standing free from Triodos Bank will give Triodos Renewables more flexibility and agility to capitalise on opportunities in ways that are no longer possible if the company remains legally part of a financial institution facing the new, tougher regulatory regime. Independence will enable the company to build on its solid foundations and prosper, playing its critical role in the UK’s energy future.
“Triodos Bank still believes that the transition to renewable energy is essential in the fight against climate change. As a pioneer of renewable energy finance we have helped catalyse and develop the market. We are absolutely committed to continuing to use innovative finance to help develop a new energy system with clean renewable energy at its core, with Triodos Renewables as one of our customers.“
Triodos Renewables will hold a General Meeting for shareholders on 26 February 2016 to discuss these changes. The meeting will see shareholders vote on the new name of the company, the revised articles and association and the buy back of the ‘A’ share from Triodos Bank, and provide the opportunity to ask any questions about the move.
Shareholders with any questions about the proposal or the General Meeting can call Triodos Renewables on 0117 980 9717 or email renewables@triodos.co.uk.
Notes to editors
For interviews, comment, photography or other information, please contact:
Will Ferguson, william.ferguson@triodos.co.uk 0117 980 9770 / 07899 965640
Triodos Renewables is the trading name of Triodos Renewables plc, Registered in England & Wales, Registered office: Deanery Road, Bristol, BS1 5AS (registered number 2978651). Triodos Bank NV provides management services to Triodos Renewables. Triodos Bank NV (incorporated under the laws of the Netherlands with limited liability, registered in England and Wales BR3012).
About Triodos Renewables plc
Triodos Renewables is a UK public limited company, with 5,700 shareholders who want their money to make a practical difference in the fight against climate change, and who recognise the long-term business potential of renewable energy.
It works with partners to develop and acquire projects, and invest in innovative companies in the sustainable energy sector. Its portfolio includes fifteen sustainable energy projects with a total capacity of 75 MW and able to produce enough clean, green renewable energy for the equivalent of more than 40,000 homes.
