The funds will finance green equipment – including lighting – for UK businesses over three years.
From next month, all companies will be able to apply for green growth money from Siemens Financial Services. It will provide the financial backing while the Carbon Trust will assess the carbon, energy and cost savings of any application enabling the financing to pay for itself through energy savings.
‘A missing ingredient at present is access to affordable finance’, said Carbon Trust chief Tom Delay. ‘This major finance facility will improve business competitiveness, cut carbon and boost green growth.’
SFS has extensive experience of asset financing and lending and is particularly successful in the SME sector.
All energy saving equipment is eligible as long as it meets the scheme’s criteria. A previous scheme through which the Carbon Trust made interest-free loans of up to £250,000 each to small to medium-sized enterprises ends next week. The loans will be made at commercial rates for periods of one to seven years and sums from £1,000 to several hundred thousand pounds.