Finance for making improvements to energy efficiency

Up to £5million is available to UK-based organisations, however it is expected that most projects will be valued in the region of £25,000 and £250,000.

Technologies eligible for ReEnergise SmartEnergy Finance include biomass, solar PV, solar hot water, wind turbines, anaerobic digestion and ground/air-source heat pumps.

The fund will also support broader energy efficiency measures such as lighting upgrades, insulation, building management and monitoring systems, voltage optimisation and upgrades and efficiency improvements to process and manufacturing machinery.

ReEnergise will charge users ‘limited fees’ for financing, with basic set-up and on-going management costs. The cost of financing projects will be wrapped up in the lease, rental, or interest payments charged over the financing term.

The launch of the fund is the result of an agreement between ReEnergise Finance and SI Capital, a private equity fund manager focused on renewable energy and energy efficiency opportunities. SI Capital will provide initial funding for ReEnergise SmartEnergy Finance.

“Businesses are facing many challenges today,” says Adam Hewson, Director, ReEnergise Finance. “Expenditure on energy has become a critical factor in overall business profitability. The imperative is to reduce energy use and to consider how energy efficiency and cheaper, sometimes subsidy-backed, renewable energy generation can lower energy costs in the medium term.

“This all requires investment. Our aim is to provide an intelligent source of energy efficiency and renewables finance for just these kinds of projects. The savviest businesses are not only regarding energy as a painful and costly challenge but as a way of creating competitive advantage in their market.  Lower energy use means lower costs that can be passed on to customers.”