£550M green equipment finance launched
'First of a kind' £550 million funding deal for greening business is being offered by the Carbon Trust and Siemens.
The new finance, which was announced today (April 26), could be worth up to £550 million over the next three years.
As the Government drags its feet on launching its much heralded green bank the trust and Siemens have launched their own green finance drive.
According to the Carbon Trust the scheme is a 'first of its kind' and will help UK businesses invest in cost effective energy efficiency equipment and other low carbon technologies, such as new efficient lighting and biomass heating.
Siemens will provide the financial backing and management, while the Carbon Trust Implementation Services, a subsidiary of the Carbon Trust, will use its expertise in carbon saving from energy efficient technologies to independently assess project for funding.
A spokesman for the Carbon trust urged business to apply for the fiancé pointing out the energy savings would cover the repayments.
He said: "The financing will pay for itself through energy savings and result in no net cost to the customer."
For more information or to apply click here.