Salix launches second Energy Efficiency Loans Scheme with £4.5m funding
21 January 2011
Following the success of its previous public sector 100% loans schemes, which allocated £63m of interest free loans during financial year 2009-10, Salix is able to launch a further loans scheme, with initial funding of £4.5m, which is to be provided to public sector bodies in England (excluding Central Government Departments, their Agencies and NDPBs). The Scheme allows public sector bodies to apply for an interest free loan to finance up to 100% of the costs of energy saving projects meeting the criteria set out in the paragraph below. This initial tranche of loans will be paid back to Salix by direct debit on a 6 monthly basis over a period of 4 years, commencing in March 2012.
The application process will be in two stages:
- The application, project assessment and commitment to fund from Salix.
- The completion of the project with set up of the loan and payment of the money (unless Salix agree to fund on an interim payment basis see further below).
- The funding can be applied for in this current financial year only, ending on 31 March 2011.
Salix is an independent social enterprise, a not for profit company limited by guarantee. Providing funding for proven technologies which are cost effective in saving CO2 and will enable any further energy saving technologies to work at their best. Salix projects include insulation, lighting and heating upgrades, IT improvements, swimming pool covers, voltage reduction or better boilers.
Salix delivers 100% loan funding schemes as part of its SEELS programme. To date Salix has funded some 1700 projects, which are currently being implemented, across 250 organisations.
This will lead to the saving of an estimated 94000 tonnes CO2 and £15.5m annually; resulting in lifetime savings of some 1.5m tonnes CO2 and £225m.
Salix applicants for these schemes include local authorities, schools, hospitals, higher and further education and central government organisations.