Housing association Orbit has secured £195 million in funding from Lloyds Bank to improve energy efficiency in thousands of social homes across the Midlands, East, and South East England.
The Coventry-based association aims to invest the funding to raise the Energy Performance Certificate (EPC) rating of its homes to band C or above by 2030, while improving insulation, reducing carbon emissions, and developing new properties.
The agreement included increasing Orbit’s existing funding to £90 million through a sustainability-linked loan to strengthen its financial resilience, as well as adding a £30 million retrofit loan partially backed by the National Wealth Fund to support energy-efficiency improvements.
The financing package also included an additional £75 million from Scottish Widows, combining existing debt with new funding to ensure long-term financial stability.
Last year, Lloyds Bank provided £210 million in loans to a range of housing projects, including sustainability financing for social housing in several regions across England.
Officials from Orbit, Lloyds, and the National Wealth Fund expressed optimism about the impact of these agreements in improving quality, boosting energy efficiency, and enhancing the sustainability of housing for the benefit of local communities.
