South Wales energy firm plugs into Santander

Leading independent project management and professional engineering consultancy, Energy and Power, has switched to Santander Corporate Banking to facilitate further growth. The new banking deal includes loan and overdraft facilities, with the loan funding anticipated growth, in new and existing oil, gas and renewable market sectors, and the overdrafts supporting its trading subsidiaries.

Energy and Power was founded in 2000 by Peter Streets and David Ryan. The Company has a turnover of around £8m and has contracts with blue chip energy companies such as EDF Energy, Sasol and Gulf Keystone.

The company has offices in London and Port Talbot, South Wales with staff assigned to projects in the UK, Africa, Asia and the Middle East.

David Ryan, co-founder and Managing Director of Energy and Power, said "We are delighted to agree on this financial arrangement with Santander, we believe this to be the start of a long term relationship and will allow Energy and Power the opportunity for growth in new and existing market sectors.

"Santander have taken the time to get to know us and have demonstrated a thorough understanding of our business and our ambition. Santander also showed an excellent market understanding and commitment to the relationship. We look forward to building our project portfolio with Santander."

Andrew Woodgate, Relationship Director at Santander Corporate Banking, said: "We are delighted to be supporting the growth of Energy and Power. Both Peter Streets and David Ryan are extremely well respected in the industry and have demonstrated to us that the company has a clear and progressive vision."