£5 Million Fund Created To Improve SME Energy Efficiency

Sept. 6, 2013 - PRLog -- The fund, called ReEnergise SmartEnergy Finance, follows an agreement between two parties; ReEnergise Finance and SI Capital, a private equity fund manager. It is designed to help companies for projects that are of a value between £25,000 and £250,000 and includes work on renewable technologies including wind turbines, biomass, solar panels, and ground & air heat source pumps. It can also be used to support the financing of energy efficiency measures such as lighting, insulation, building management and monitoring.

As with any financing, the businesses who take up the fund will incur limited fees.  They will also need to factor in basic set up and ongoing management costs in some cases. However, this is a great step to help SMEs to ensure that their energy costs are as low as possible, and that they can even diversify in to renewable sources of energy.

ReEnergise says that it expects the majority of interest for the fund to come from the manufacturing, farming, education, leisure and hospitality industries. However, there is a broad scope for the fund to help a wide range of small businesses across the UK. The energy efficiency industry in the UK is also to benefit from investment such as this, with government figures showing that it is currently growing at 4% per year, supporting 136,000 jobs.

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