To date Salix has invested over £9 million of interest free loans in energy savings projects for PSB’s in Wales. We are now in a position to reinvest the repayments received from this and are now seeking applications for c £2.5 million.
Projects must comply with the following criteria:
- the project must pay for itself in energy savings within a maximum 8 year period
- the cost of CO₂ must be less than £200 per tonne over the lifetime of the project
- the project must be “additional” (see below)
There is a minimum value for any single project of £500 and a total minimum application and loan value of £5,000. There is no maximum level for an application.
The application process will be in two stages:
- The application, project assessment and commitment to fund from Salix
- The completion of the project with set up of the loan and payment out of the money
Once a project is accepted for funding by Salix the applicant has 9 months to complete the works from the date of a commitment letter from Salix agreeing to finance the projects applied for.
Loans will be paid back to Salix by direct debit on a 6 monthly basis over a period of 6 years commencing October 2013.