Triodos Bank has confirmed finance to support the development of a new landmark building (pictured above) at the University of Winchester’s West Downs Quarter.
The £30m loan from the sustainable bank will ensure that the development – which includes a 250-seat auditorium and will increase teaching and support floor space by 20% – will be completed for the 2019/20 academic year.
The new building will contain a number of sustainable features including:
- combined heat and power plant
- heat recovery systems
- solar photovoltaic panels
- rainwater harvesting
- green roof
- bat and bird boxes to promote biodiversity
- all electricity used to power the building will be bought from renewable sources
The development will also feature an art gallery, café, food hall, library, and social learning areas.
Professor Joy Carter, vice-chancellor at the University of Winchester, said that it was its ambition to become the most sustainable university in the UK.
"This project – the most ambitious in our history – typifies our commitment to this cause and is made even better by receiving funding from such a like-minded and values-driven bank."
The university hopes the building will help it to deliver its interim 2025 carbon reduction targets, having already achieved a 45% reduction in carbon emissions by floor area across its estate since 2006/07.
“There is a huge opportunity to promote large-scale positive change in the education sector,” said Rebecca Pritchard, head of business banking at Triodos Bank UK.
“This is our first loan to a UK university and it represents a significant moment in the bank's history by highlighting our commitment to supporting pioneering educational institutions.
“Higher education is a cornerstone to building a more sustainable and inclusive society, and in the coming years we are looking forward to working with more universities that are aligned with this mission."
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Redefining banking: AI
This is an exciting time for financial services as a new era of interrelated technologies, including artificial intelligence (AI), robotics, blockchain, machine learning, cloud computing and data science, are causing widespread technological and digital disruption in the industry...
Apple introduces Apple Card
Apple has announced the creation of its first credit card 'Apple Card', which will be made available in the US this summer...
FCA proposes changes to help mortgage prisoners
The FCA has proposed changes to how lenders assess the affordability of a loan...
Hanley Economic BS strengthens shared ownership range
Hanley Economic Building Society has bolstered its shared ownership product range through the addition of a no-fee, shared ownership variable discount mortgage for term with a headline rate of 2.89%...
Al Rayan Bank confirms appointment of new CCO
Al Rayan Bank has appointed Maisam Fazal (pictured above) as chief commercial officer (CCO)...
AI Rayan provides £228 million of property finance to expats
Al Rayan Bank has announced that it has financed £228m in residential property finance to UK nationals living and working overseas...
Vanquis Bank names new MD
Provident Financial PLC has announced the appointment of Neil Chandler (pictured above) as managing director at Vanquis Bank...
Wyelands Bank hires two new regional directors
Wyelands Bank has made two additions to its working capital solutions team...
Triodos Bank reports 17% growth in sustainable lending
Triodos Bank has reported a 17% year-on-year growth in sustainable lending for the year ended 31st December 2018...
Tandem introduces new savings account powered by AUTOSAVINGS
Tandem has launched a new savings account which pays 0.5% interest...
Project BankNorth picks nCino to provide digital banking platform
Project BankNorth has partnered with cloud-banking fintech nCino...