The Wales Recycling Fund

After delivering over 800 energy efficiency and renewable projects since 2009, the Recycling Fund scheme in Wales will be brought to a close in March 2027.  

Any new projects must be committed by 30 June 2026. This is to ensure they can be delivered and completed by 31 March 2027 when the funds will close.   

Repayment of the loan will begin once the final project is complete, and the fund is closed. The repayment plan will be agreed between Salix and the Public sector body and repayments will be made according to the schedule in the Annexure 3.  

The Salix Recycling Fund 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 eight years for Welsh clients.

The scheme aims to increase capital investment in energy-efficient and low carbon heating technologies across the public sector. The financial savings delivered by the projects are returned to the fund allowing further spending on decarbonisation projects, hence the term ‘Recycling Fund’.

The fund has financed hundreds of projects, worth more than £8.6m. The average fund has been recycled over 3.5 times. Combined, the Recycling Funds save more than 10,289 tonnes of carbon each year.

We're delighted to be working with all of our inspiring clients, offering technical and fund management support to ongoing help with project delivery.
 

• A long-term ring-fenced fund held by the public body where financial savings are reinvested year on year to fund further energy efficiency projects.
• Securing long-term finance for energy efficiency investment.
• We offer the option of a management charge, where 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.
• More than 100 energy efficiency technologies are eligible including lighting, heating, and insulation.
• Project compliance criteria of up to a 8 year payback at a cost of £278 per tonne of carbon dioxide saved.
• Ongoing client and technical support from our team on fund management and project delivery.
• Networking and knowledge sharing with other public sector peers.