Green Deal Finance Company sold
The Board of the Green Deal Finance Company (GDFC) has today announced the sale of its wholly-owned subsidiary, GDFC Services Limited (‘GDFC Services’) for a total consideration of £40m.
The GDFC ceased offering new Green Deal Plans in July 2015, immediately following the Government’s decision to stop funding the scheme. The GDFC’s new owners, Greenstone and Aurium, have stated their intention to commence the financing of new Green Deal loans by the end of the current quarter.
Richard Twinn, Policy Advisor, UK Green Building Council:
“We welcome the sale of the GDFC following the Government’s decision to withdraw funding in 2015.
“The Green Deal was never a silver bullet for driving energy efficiency improvements and the limitations of the Golden Rule mean it will only be attractive to a specific part of the able-to-pay market. But in the absence of a policy alternative from Government, the possible reignition of a pay-as-you-save mechanism could provide a viable option for households on moderate incomes to make improvements to draughty homes.
“However, one of the big failures of the Green Deal the first time around was the lack of incentives from Government to drive uptake. Unless Government grasps the nettle this could well become a problem once again.”