News
Salix Energy Efficiency Loans Scheme
Released on 19/06/2009
As you may be aware the Government announced in Budget 2009 that it would allocate £65m across the UK for investment in energy saving projects in the public sector. £51.5m of this will be available for interest free loans to fund energy saving projects in England within the public sector and Salix are pleased to have been given the responsibility of managing this programme.
The programme was launched on 10th June, by the Minister for Energy and Climate Change, Joan Ruddock.
This is a positive opportunity for organisations to assist in meeting the ambitious carbon budgets set for public sector organisations who should lead by example by pioneering ways to reduce carbon emissions.
The Scheme will provide interest free loans to pay for the installation of a wide range of energy efficiency measures across the public sector estate – providing 100% support in making further progress towards reducing their energy bills and carbon emissions.
We see this as a great opportunity for public sector organisation to invest in projects that cannot be easily financed from other sources.
We are aware that there may be a number of ready to go projects which can be submitted quickly and for these we are launching the first call for applications with a closing date of 17 July so that the projects can be undertaken during the quieter summer period.
The interest free 100% funded loans will be repayable over 4 years with the first repayment due at the start of March 2011 and 6 monthly thereafter.
The minimum amount available is £5000 per application with no upper limit providing all projects can be completed within 9 months of agreed application. The loan should cover the total cost of the project and no match funding is required.
Loans will be available for around 80 different energy efficiency technologies, including building insulation, boiler and lighting upgrades and IT energy efficiency improvements. The repayments should be covered from the energy savings achieved by the projects and organisations can keep all the savings generated once the loan is repaid.
The scheme will accept submitted applications until December 2009 or until all the funding has been allocated whichever is sooner. Funding will be committed on a first come first served basis, so if you want to take advantage of the scheme we would suggest you submit your application early.
More details can be found on the Salix Finance website http://www.salixfinance.co.uk/loans.html
