The Wales Recycling Fund
Closed for applications
Closed for applications:
About this scheme
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 over 10,289 tonnes of carbon each year.
- 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.
- Salix offers 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.
- Over 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 Salix on fund management and project delivery.
- Networking and knowledge sharing with other public sector peers.