Salix Finance energy efficiency 0% interest loans available additional £20million for public sector loan scheme.

Date: 9/12/2011

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Salix energy efficiency 0% intrest loans available additional £20million for public sector loan scheme

DECC have announced a further £20m available in interest free loans to fund public sector energy efficiency projects in England (excluding central Government Departments).

You need to apply for the loan before the end of March, and projects need to be completed by December 2012. Loans can be for up to 100% of a qualifying project, and repayments are then made from the money saved on energy bills. Applications will be processed on a first come first served basis.

There is more information at: http://www.salixfinance.co.uk/seels4_england.html. Please contact Salix directly with any questions.

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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.

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). The funding can be applied for in this current financial year only, ending on 31 March 2012.

Once a project is accepted for funding by Salix, the applicant has up to 9 months to complete the works from the date of a commitment letter from Salix agreeing to finance the projects applied for in the application form. Application notes and details of the scheme can be found by following the link under information for clients.

Applications will be processed on a first come first served basis until all funds are allocated so the sooner an application is made then there is a greater chance of obtaining the required funding.

SEELS 4 - England
Information For Clients- Application notes and how to apply can be found by clicking here.

- Access to the application form.

- If you are applying for a project you will need to submit a compliance tool.

- If you are completing a voltage management project over £25,000 then you will need to complete the voltage management load mix tool as well as the project compliance tool. Click here.

- For all projects valued over £100,000, you will need to complete a Salix business case template. This can also be used for other projects to provide supporting detail. Click here to download the template.

- On completion of projects a completion certificate must be completed and signed and sent to Salix at: SEELS4, Salix Finance, 25 Southampton Buildings, London, WC2A 1AL.

- Salix will then issue a loan agreement and direct debit mandate for the authorised officer to sign and return to Salix at: SEELS4, Salix Finance, 25 Southampton Buildings, London, WC2A 1AL.

- On receipt of completed documentation the loan funding will be paid by BACS.

- If you have requested interim/stage payments and this has been authorised then an interim payment certificate must be completed and returned to Salix in line with the agreed procedure.

- If you have made changes to a project already agreed you will need to resubmit a compliance tool.

- Loan repayments will commence from the start of March 2013 continuing over 4 years by 8 equal instalments with the final payment September 2016.

Official PRESS RELEASE:

Salix Finance Ltd receives additional £20million for public sector loan scheme

Applications from public sector organisations for energy efficient projects sought before end of March 2012

Salix Finance, the independent not for profit company, today (07 December) announces that it has been awarded an additional £20million by the Department of Energy and Climate Change (DECC) for its successful public sector energy efficiency loans programme.

The loans, available for efficiency projects in England across the public sector – from schools and universities to local authorities and NHS Trusts – before the end of March 2012, will save organisations money on energy bills and reduce carbon emissions.

Salix loans are provided for energy efficient projects that pay for themselves within five years through lower energy bills. Repayments are made from the money saved on energy bills and, once the loans are repaid, the organisation continues to benefit from the low carbon equipment and the saving it delivers.

Salix supports over 120 types of energy efficiency technology. To date, it has funded over 7500 projects which have an average payback from the energy savings of 3.5 years and an average expected lifetime of 13 years. The £20million funding is for allocation to projects by the end of March 2012, and will be paid by Salix to successfully completed schemes before the end of December 2012. The funding will be allocated on a first come first served basis and so projects submitted early will benefit.

Energy and Climate Change Minister Greg Barker said: “This extra money for universities, schools, local authorities, hospitals and other public organisations will help get even more energy saving schemes up and running across the country and will help the public sector to continue leading by example on energy efficiency.” Alastair Keir, CEO of Salix Finance Ltd said: “We are really pleased to be awarded this new funding. It will enable us to continue to provide much needed assistance to the public sector, helping it reduce its carbon emissions and energy bills. Demand from the public sector for energy efficiency improvements is enormous. This interest free loan fund removes the barrier of having to find capital to pay for the energy efficiency measures at a time of tight budgets. We look forward to receiving applications from organisations across the public sector.”