Scotland Recycling Fund

Salix is currently accepting applications to set up new Recycling Funds with Scottish local authorities and universities, dedicated to estate-wide energy efficiency retrofits, in support of Scottish Government’s carbon reduction target. Salix have been working with the public sector in Scotland since 2006.

The Salix Recycling Fund aims to increase long-term investment in energy efficient technologies across the public sector. It is a ring-fenced fund held by the local authority, created with capital provided by Scottish Government through Salix, and equally matched by the local authority. Current Recycling Fund sizes vary from £100,000 to £1.6 million.

The Salix contribution is a long-term 100% interest-free repayable grant. Scottish local authorities can use their existing Central Energy Efficiency Fund (CEEF) or their own capital as their match contribution. The financial savings achieved by the projects are reinvested in further eligible projects year on year, hence the term ‘Recycling Fund’. 

The Recycling Fund can also be used to finance retrofit programmes from the Non Domestic Energy Efficiency framework (NDEE).

Benefits of the Scotland Recycling Fund include:

  • Securing long-term finance for energy efficiency investment.
  • Up to 15% of project costs can be used to support project identification and delivery.
  • Up to 25% of annual energy savings can be kept as immediate savings, with 75% ring fenced in the fund.
  • Over 120 energy efficiency technologies are eligible including lighting, heating, and insulation. See the full list of supported technologies here.
  • Project compliance criteria of up to an 8 year payback and a maximum cost of £200 per tonne of carbon dioxide saved. 
  • Ongoing client and technical support from Salix on fund management and project delivery.
  • Networking and knowledge sharing with other public sector energy and finance peers.

The application process is simple and requires:

  • Recycling Fund application form on request.
  • Compliance tool of ready projects to support delivery of the Fund.
  • Letter of support from a Sponsoring Director.

To express interest or request the Recycling Fund application form, please contact Lindy Frey on lindy.frey@salixfinance.co.uk or 0203 201 6904.

 

 

Web design & development by objectsource