The Salix Recycling Fund

The Salix Recycling Fund aims to increase capital investment in energy-efficient technologies across the public sector. It is a ring-fenced fund with capital provided by Salix and matched by the partner organisation, to be spent on energy-saving projects with paybacks up to 10 years. The financial savings delivered by the projects are returned to the fund allowing further spending on front line services, hence the term ‘Recycling Fund’. 

 

Recycling Funds in England

Our government funders, the Department of Business and Industrial Strategy (BEIS), have agreed that England recycling funds can remain open until March 2025.  However, to align with the governments’ climate change policy priorities some changes are required to how Recycling Funds function. We are in the process of designing new eligibility criteria and guidance to support you and aim to issue this by the end of September.  In outline, there will be an increased focus on heat decarbonisation and we will be asking you to submit a 3-year plan demonstrating how the funding will be utilised over the remaining lifetime of the fund by 31st March 2022.  We are unable to share more information at this stage, however we have prepared FAQs here that may provide some direction. 

 

The status and requirements for Recycling Funds in Wales and Scotland remain unchanged.

 

The Salix Recycling Fund

  • Salix currently has 117 Recycling Fund partner organisations, including local authorities, higher education institutions, emergency services and the NHS.
  • The fund has financed thousands of projects, worth more than £360 million.
  • On average, projects have realised a payback of 3.7 years.
  • The size of an individual Recycling Fund ranges from £100,000 to over £1 million. A typical fund size would be £500,000 with Salix providing £250,000 and the client match funding the other half.
  • Salix publishes a quarterly report for the Recycling Fund called ‘The Salix League’. This is a series of league tables which focus on seven delivery measures across all Recycling Fund clients, including ‘Spend Rate’ and ‘Use of Available Funds’. These are accessible to all Recycling Fund clients. 

For current Salix funding programmes please check the Salix Energy Efficiency Loans Programme section.

Salix is currently setting up new Recycling Funds with local authorities in Scotland, for further information please visit the Scotland Recycling Fund section. 

If you are a Recycling Fund client, by logging in you will be able to access the Recycling Fund League Tables from this area. If you do not have access, please register and contact Salix to have access enabled.

For more information on the Recycling Fund scheme please email charles.pegg@salixfinance.co.uk or [email protected]