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Wells Fargo environmental financing exceeds $8bn

11 Feb 2011

Financial services major Wells Fargo has made more than $8bn in loans and investments to businesses and projects with a positive impact on the environment since 2005.

It committed more than $1.3bn in 2010 to environmental markets, including $3.7bn in financing for green buildings, according to its 2010 Environmental Finance Report.

Wells Fargo intensified its position in environmental financing last year with the introduction of new products to finance clean energy development, construction financing and equity loans for solar modules.

Its increasing expansion in the sector saw the US financial service provider commit more than $300m in loans to clean technology businesses in 2010. In addition, it provided over $750m to financing energy efficient commercial buildings and developments during the year.

‘Exceeding $8bn in financing not only represents Wells Fargo’s continued commitment to the environment, but also the tremendous growth of clean technology businesses,’ said Wells Fargo’s Environmental Finance group head Barry Neal.

‘We look forward to helping the industry expand even further as we continue to invest in customers and projects that support a clean energy economy.’

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