Lloyds Banking Group has revealed it is poised to invest in renewable energy projects in Australia.
The bank said this week that it may offer loans to wind and solar-powered projects.
The Australian government has set aside a fund equivalent to £942m for renewable projects, and Lloyd’s plans to target this money. Other companies eyeing a slice of the funding are BP, AGL Energy and Suntech Power.
Ed Wilson, head of renewable energy for Lloyds, told Bloomberg: “We’re looking to have a more international flavour. Australia appears to be committed to renewable energy and attracting investment into the industry.”