GIB alliance makes £50m available for energy efficiency projects
The UK Green Investment Bank (GIB) is putting up £25m in funding for public and private sector organisations wanting to implement energy efficiency projects, writes Edie.net.
Making the announcement, the bank says it is joining up with international equipment and vendor finance specialist Societe Generale Equipment Finance (SGEF), who will be adding the additional £25m to the fund.
The alliance will marry SGEF’s “strong track record in equipment financing” with additional capital and expertise from GIB, helping organisations reduce their energy costs and greenhouse gas emissions.
According to the GIB, funding from the alliance will allow organisations to put in place energy efficiency measures without having to fund the finance upfront.
Projects could include combined heat and power plants, boilers, building retrofits, lighting and energy reduction technologies for production processes, among others.