Newcastle International Airport has secured its first-ever sustainable finance package, totalling £208 million, from HSBC, ING, NatWest and the Development Bank of Japan (DBJ), to help reach net zero by 2035.
A number of technologies are to be utilised at the international airport as a means to reach its net zero target. This includes securing a fleet of EVs, having the ability to generate its own renewable energy, the use of battery energy storage and more.
The finance facilities also include a £15 million green loan that will enable the airport to progress the next phases of its solar farm project and its continued transition to EVs.
“After the challenges of the pandemic, the completion of this refinancing demonstrates the confidence of our banks in Newcastle International Airport,” said Mark Hunt, chief financial officer of Newcastle International Airport.
“These facilities will allow us to continue to invest in customer facilities and infrastructure, attract more new airlines and routes, and really push forward on sustainability and net zero.”
Airports offer a unique opportunity for decarbonisation. Much like ports, these transportation hubs can become powerhouses and perfect case studies as to how varying renewable technologies can work in tangent with one another to form a wider decarbonised hub.
Not only does this present an opportunity to showcase technologies such as EVs, battery storage and other green technologies, new technologies such as hydrogen have also been touted in having a role at these hubs.
GRIDSERVE is one firm capitalising on this and started the construction of a first-of-its-kind “Electric Forecourt” at London Gatwick Airport with plans to commence operation in 2023.
The site will feature 36 chargers on site at the Electric Forecourt, which includes chargers with up to 350kW of power, supplied by 100% renewable energy from the firm’s own hybrid solar farms.
This presents an opportunity to showcase the technology at a wider scale and support the decarbonisation of road transportation whilst also serving the airport.
Commenting on the green financing at Newcastle Airport, Ben Foster, relationship director at HSBC UK, said: “We’re pleased to play a significant part in helping Newcastle International Airport work towards its green ambitions as we join its banking club, providing loans and hedging facilities.
“With all airports and their airline customers working through the challenges of reducing carbon emissions, we’re pleased to provide sustainable financing to support the airport’s transition and help to deliver its 2035 masterplan to reach its net zero goals.”