52 NEW DEVELOPMENTS Salix Finance: Supporting public sector energy efficiency
SALIX FINANCE IS OFFERING FLEXIBLE FUNDING TO HELP PUBLIC SECTOR ORGANISATIONS ACHIEVE LONG-TERM ENERGY SAVINGS AND BOOST THEIR GREEN CREDENTIALS
T
he challenge: lack of support for public sector green initiatives Rising energy costs and increasing awareness
of environmental issues have created a growing demand for access to funding for green initiatives. For businesses and individuals, the Carbon Trust and the Energy Saving Trust have been providing grants and loans for a number of years. Public sector organisations, though, lacked a reliable source of funding, while inflexible budgetary arrangements hampered long- term planning.
KEY ASPECTS
• Interest free ring-fenced match funding • Online project management • Compliance standards mean projects make a real difference
The solution: Flexible funding
Salix Finance is an independent company set up in 2004 using public funding from the Carbon Trust. Its aim is to accelerate public sector investment in energy efficiency technologies through ‘invest to save’ schemes. Salix offers interest-free match funding for initiatives aimed at cutting energy costs and, because the money is ring fenced, it can be recycled and carried over from year to year.
New Funding Interest free loans are being offered to public organisations in England to cut their energy bills following the Government budget announcement of £51.5 million of new loan funding. Applications are now being invited for the first call by 31st December 2009. Other calls will follow until the end of the year or until all loans have been committed.
DECC is providing this new funding in partnership with Salix Finance and the Carbon Trust. The funding is available through Salix Finance, the provider of loans to public sector organisations for energy saving initiatives. The loan fund will help save around £14 million and up to 100,000 tonnes of CO2
per year. It will complement
the existing match funding programme offered by Salix Finance which has some £90m of funding operating with 128 public sector clients in the UK
Loans will be made available for 100% of the projects cost provided that they meet agreed criteria that deliver energy efficiency savings and reduce costs. The interest- free loans will be repaid over a four year period in eight equal instalments, with the first payment being March 2011. The payments should be covered by the energy savings made. This new interest free loan scheme has already attracted a high level of interest from across the whole of the public sector.
With a raft of legislation such as the Climate Change Act, the carbon reduction programme (CRC) and the 2010 Kyoto agreement targets fast approaching, pressure is being placed on the public sector to reduce their carbon footprints.
Departments and other public sector organisations have sustainability targets incorporated into performance agreements and this new fund will enable them to practically demonstrate their commitment to improving the energy efficiency of their estates. In leading by example, the public sector can help drive performance across the entire economy.
Further information on the application process, criteria for project funding and further deadlines for applications is available on the Salix Finance website
http://www.salixfinance.co.uk/loans.html
Southampton City Council`s flagship Leisure Venue, The Quays `Eddie Read` Swimming & Diving Complex, unveil their record breaking heat retention pool cover. The cover has ensured Southampton City Council is being even more efficient with their method s of energy savings, and in just one month reduced costs by approximately £600. In addition, the cover will help reduce chemical evaporation and condensation.
PUBLIC SECTOR REVIEW
Salix Finance and the Carbon Trust are both an integral part of the UK climate change programme, working to reduce the overall carbon emissions in the public sector.
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