Silicon Valley Bank: deposits safe but questions over impact on availability of capital for clean energy sector

The collapse of Silicon Valley Bank (SVB) has raised questions around the availability of capital for the clean energy sector, having been a major actor in the space to-date including with Sunrun, Leap, AES, Cypress Creek Renewables and other developers. The bank went into receivership last week after customers withdrew deposits en-mass leaving it with a negative cash balance. The Federal Deposit Insurance Corporation (FDIC) quickly stepped in and transferred all deposits and all assets to a new ‘bridge bank’ entity – Silicon Valley Bridge Bank – allowing customers’ business to continue uninterrupted.

Silicon Valley Bank: deposits safe but questions over impact on availability of capital for clean energy sector

You are not logged in

If you want to read more, join the  ENERGY-HUB club


Try the monthly membership in the ENERGY-HUB club for free!

Related articles

UK BESS: Retail bank in US$70 million debt financing, EDF secures permissions for 442MWh

Battery storage asset owner and operator Varco Energy has secured £58 million (US$70.66 million) of debt financing facilities from…

Central & Eastern Europe’s energy storage market has huge potential but ‘needs a kickstart’

The CEE energy storage market holds much promise but grants and subsidies might be needed to get it off the ground, said speakers…

Battery storage for telecommunications networks: the use case

This year has seen major energy storage deployment plans announced by telecommunications network operators in Finland and Germany,…

Energy Dome, Invinity, Form, Redflow projects among DOE’s US$325 million LDES winners

The US Department of Energy (DOE) has shortlisted the projects to receive US$325 million for long-duration energy storage (LDES),…

RWE to install 35MW BESS at Netherlands biomass plant

Germany-headquartered energy firm RWE is installing its first battery storage project in the Netherlands, with a 35MW unit virtual…

ENERGY-HUB is a modern independent platformsharing news and analytic articles from the energy sector on a daily basis. Within our portfolio we monitor czech, slovak and foreign press releases.

Number of published news
Number of published events
Number of published articles
ENERGY-HUB uses ČTK news (The Czech News Agency), the content is protected by copyright law.
Transcription, distribution, or other dissemination of the whole or of a part of the content is prohibited without prior consent.
Drtinova 557/10, 150 00 Praha 5, Česká republika