London, April 25, 2026, 22:04 BST
- Standard Chartered is providing as much as 500 million pounds in senior secured financing to support a UK solar and battery portfolio linked to Elgin Energy.
- The agreement comes as Britain aims for clean electricity by 2030—a target that hinges on scaling up both solar and battery installations.
- The bank went ahead with its buyback, snapping up 832,000 shares on April 23. Capital returns remain in focus.
Standard Chartered PLC is backing as much as 500 million pounds ($626 million) in financing for a set of UK solar and battery projects—another clean-energy push for the Asia-focused lender, as Britain ramps up efforts to boost power investment.
London-listed lender Standard Chartered is stepping in as mandated lead arranger, bookrunner, lender and hedging counterparty on a senior secured platform financing aimed at backing solar photovoltaic projects paired with battery energy storage systems—those BESS units that store power and discharge it when demand spikes. The financing covers development, construction and ongoing operations.
Amalfi Finance Company, fully owned by Elgin Energy, has secured funding for as much as 1 gigawatt of UK solar assets. Elgin counts Copenhagen Infrastructure Partners as a backer via its Flagship Fund V.
This shift matters now as the UK’s clean power ambitions are shifting squarely from paper to pounds. The government wants 45-47 GW of solar and 23-27 GW of batteries plugged in by 2030, plus grid improvements and more flexible energy assets.
This facility uses a portfolio setup, so new projects can slot in as long as they satisfy the established eligibility criteria. “Scalable deployment” of renewables and “long-term capital” for major solar assets—those are the key aims, according to Philippe Tabouis, who oversees infrastructure and development finance for Europe at Standard Chartered. Standard Chartered Bank
Standard Chartered isn’t the only lender eyeing these deals. Last year, NatWest and Lloyds Banking Group fronted the financing for the Cleve Hill solar and battery storage project in the UK—evidence of heavyweight banks pushing into renewables debt as sponsors seek out partners who can deliver on hedging and structuring too.
Just a day before, Standard Chartered announced it’s brought the International Chamber of Commerce’s Principles for Sustainable Trade Finance Framework into its trade finance business. Trade finance—bank funding and risk support tied to the flow of goods in supply chains—will now come with clearer benchmarks and steadier reporting, according to the bank. Clients, it says, should notice the difference.
Sofia Hammoucha, who heads global trade and working capital at Standard Chartered, described the framework as bringing “transparent and consistent standards.” Andrew Wilson, ICC’s deputy secretary general for policy, said it marked progress toward a “globally consistent” approach in sustainable trade finance. Standard Chartered Bank
Standard Chartered is keeping up its capital returns. On April 23, the bank picked up 832,000 ordinary shares at an average price of 1,756.0944 pence, according to a regulatory filing. That brings the buyback tally to $713.6 million so far. Those shares are set for cancellation, the company said.
Standard Chartered shares in London wrapped up April 24 at 1,742.40 pence, slipping 0.82%, Reuters data showed. Over in Hong Kong, the stock changed hands at HK$183, marking a 1.88% drop.
The bigger story for investors remains earnings, not a single project-finance win. Back in February, Standard Chartered delivered full-year pretax profit of $6.96 billion—a 16% increase—unveiled a $1.5 billion buyback, and boosted its dividend for the year by 65%. Chief Executive Bill Winters said he plans to stick around for the bank’s next strategic chapter.
Still, the UK’s power expansion faces potential setbacks. The government’s clean-power blueprint highlights a staggering 739 GW stuck in the connections queue, and acknowledges the need to speed up planning, approvals, and grid upgrades. Rising construction expenses or softer power-price returns might yet challenge backers and financiers.
Standard Chartered’s pitch stacks up: convince investors it can ramp up fee and financing business in sustainable infrastructure and trade, all while pressing ahead with share buybacks. That balancing act faces another test in May, when the bank rolls out its next strategy blueprint.
