Lloyds Banking Group, a london based bank has announced that they will finance Australian solar power projects.

The Head of renewable energy for Lloyds Banking Group, Ed Wilson said on in an interview that they may provide loans to solar or wind power projects development in Australia. He did not commented on how the Lloyds will provide the loan facility in the australia.

“We’re looking to have a more international flavor and the Solar Flagships program gives us a good opportunity to look at the prospects down there,” Ed Wilson said.

“Australia has been regarded as an inconsistent investment environment — it has a great natural resource, and yet the economic drivers have not been encouraging investment in renewable energy technology”, Wilson added.

Lloyds Banking Group Plc said they plan to fund the projects , targeting ventures competing for funds from the government A$1.5 billion solar program.