Scheme to offer GBP550m in green business loans

Mon, 07 Mar 2011

A new scheme could see UK firms take advantage of £550 million worth of business loans to invest in green technology.

The Carbon Trust has partnered with the financial arm of Siemens to provide the loans, which will enable businesses to buy equipment such as low-energy lighting and biomass heating.

It is expected that the savings on energy bills made by firms will be enough to offset the loan repayments .

"Driving green growth in the UK is key to our economic recovery," said Tom Delay, the chief executive of the Carbon Trust.

"A missing ingredient at present is access to affordable finance to enable business to make green investments . This new major finance facility will improve business competitiveness, cut carbon and boost green growth."

Siemens Financial Services Ltd. will provide the financial backing and manage the provision of the loans while the Carbon Trust will assess the carbon, energy and cost savings of any application.

All businesses will be able to apply for finance from the scheme from April 4th this year.
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