Salix interview with CIHT on flexible interest-free finance for local authority street lighting
Members of Salix were interviewed by Justin Ward, Senior Policy Officer from the Chartered Institution of Highways & Transportation (CIHT), to discuss how Salix Finance works with local authorities, offering flexible investment options for street lighting upgrades.
The CIHT is a registered charity and membership organisation for professionals in the transportation industry. CIHT offers independent, professional advice, technical expertise and knowledge to guide investment in transport infrastructure.
The interview focussed on how Salix can provide innovative financing solutions for local authority street lighting, such as securing funds for a multiple year programme, reserving funds until procurement is complete, and part-funding longer payback projects.
Alannah Powell, PR and Marketing Executive at Salix, describes the successes local authorities have achieved to date in terms of energy efficiency, reducing carbon emissions and lowering energy bills with street lighting schemes funded by Salix across the UK. Salix has financed over £93 million of completed projects across 92 local authorities as of March 2017, saving those councils a projected £19.9 million and over 84,000 tonnes of CO2e per annum*.
Alannah also highlights how enabling the facilitation knowledge share within the public sector has helped local authorities; “Public sector organisations find it really valuable to come to our workshops."
Lindy Frey, Programme Co-ordinator for street lighting in England, explains how Salix can facilitate early discussions as local authorities investigate funding options for investing in street lighting upgrades, including presenting the funding model to relevant teams at the council offices.
Lindy said, “We can offer a conversation, providing feedback on their initial business case, to support internal decision making, as well as offer transparent insight into the application process.”
Matt Caville, Programme Manager for the technical services team at Salix, explains the eligibility criteria for street lighting scheme; which is up to a five year technical payback in England and up to an eight year technical payback in Scotland and Wales. Matt adds, “We can be flexible in supporting longer paybacks projects by part funding."
A full version of the article published in Transportation Professional can be found here.
To listen to the full CIHT podcast on flexible Salix financing options, please click here.
Salix is holding a public sector Street Lighting Workshop on Wednesday 8th November, focussed on lessons learned from recently completed projects across the country. More details can be found here. If you’re interested in attending the workshop, please e-mail Lindy.Frey@salixfinance.co.uk.
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*Calculated using emissions factors published in 2017 by government for carbon footprinting.