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Thursday 10th March 2011
10 March 2011
More than half a billion pounds will be released over the next three years to help UK businesses invest in energy efficiency products as part of a low carbon scheme.
All businesses will be able to apply for 'green growth finance' loans from 4th April to install anything from low energy lighting to biomass boilers in their workplace.
All applications will be assessed by the carbon Trust, while Siemens will provide financial backing and manage the funding.
The loans will be repayable for a period of up to seven years.
Tom Delay, chief executive of the Carbon Trust, said:
“Driving green growth in the UK is key to our economic recovery. 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.”
John Sauven, executive director of Greenpeace, added:
"A green growth strategy can only work if it is backed by green finance. Deals like this, alongside the development of a green infrastructure bank, could be a tipping point that the UK economy needs to get out of the current doldrums.”
More than half a billion pounds will be released over the next three years to help UK businesses invest in energy efficiency products as part of a low carbon scheme.
All businesses will be able to apply for 'green growth finance' loans from 4th April to install anything from low energy lighting to biomass boilers in their workplace.
All applications will be assessed by the carbon Trust, while Siemens will provide financial backing and manage the funding.
The loans will be repayable for a period of up to seven years.
Tom Delay, chief executive of the Carbon Trust, said:
“Driving green growth in the UK is key to our economic recovery. 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.”
John Sauven, executive director of Greenpeace, added:
"A green growth strategy can only work if it is backed by green finance. Deals like this, alongside the development of a green infrastructure bank, could be a tipping point that the UK economy needs to get out of the current doldrums.”