North Wales set for 900 homes by 2025
Bangor-based housing association Adra has secured a £40m sustainability-linked RCF loan from Lloyds Bank to build a series of green houses in the region.
The housing provider proposes to use the funding to deliver 900 energy efficient homes in North Wales by 2025 and improve the efficiency of its existing properties.
With the aim of being a net-zero organisation by 2030, Adra aims to ensure that 90% of its new-build homes have the highest energy efficient energy rating of EPC A.
Adra will also retrofit more than 450 of its properties to improve their efficiency by a minimum of 8%.
The sustainability-linked loan will ensure the housing provider hits this range of ESG KPIs, enabling it to qualify for discounts on its interest rate of funds payable back to Lloyds.
The £40m should also support more than 350 of the company’s residents into employment, through apprenticeships or work placements.
Rhys Parry, director of resources at Adra Housing, said: “Delivering on the need for quality, affordable housing for North Wales residents in a sustainable way runs to the heart of what we do.
“It’s why we’ve set ambitious objectives over the past few years and chosen to work alongside Lloyds Bank, who share our commitment to creating a fairer, greener society.”
Speaking of Adra’s plans, Christopher Yau, director of origination and sustainability for housing and head of the North West corporate banking team at Lloyds Bank, added: “Organisations like Adra don’t just provide housing, they create employment opportunities, improve peoples’ wellbeing and complement the broader sustainability objectives of their communities.”