Calvin Capital (Calvin) announces that it has signed a new contract with EDF Energy that continues the partnership and support for EDF Energy’s smart meter roll-out across Great Britain. Calvin has been funding EDF Energy’s foundation stage smart meter installations for the past two years and has now entered into a new agreement that will allow EDF Energy to accelerate its ramp up of smart meters over the next few years. The contract will see Calvin procuring up to 1.6 million smart meters for EDF Energy.
The CEO of Calvin, Bert Pijls, said “I am delighted with how the relationship between Calvin and EDF Energy has developed over the last two years which has resulted in a solid foundation on which to continue supporting EDF Energy with its smart meter roll-out programme. Our continued investment, together with our cost effective and flexible funding package, provides EDF Energy with the certainty and flexibility to meet the needs of its customers at this critical time.”
The EDF Energy Director of Customer Operations, Jim Poole, said “Our ongoing partnership with Calvin will support our aim to deliver the benefits of smart meters to our customers efficiently. This new contract ensures that we continue to manage the long-term costs for a significant proportion of our smart meter rollout with our customers best interest in mind – ensuring they benefit from good value and lower costs.”
Calvin has worked with a number of its relationship lenders, BNP Paribas, HSBC, HSBC Equipment Finance, RBS and Santander, to increase the size of its existing funding facilities in support of the transaction.