Financial Solution To Help Education Sector Get Energy Efficient
• Help for schools and colleges to reduce their energy burden
• First dedicated finance brokerage for renewable energy and energy efficient projects in the UK
• ReEnergise Finance announced as one of the first Green Deal providers by Climate Change Minister Greg Barker
For the first time, schools and colleges across the UK will have access to specialist finance to help them become more energy efficient and save money through renewable energy.
A new brokerage service is being provided by ReEnergise Finance and comes at a time when the UK is seriously lagging behind other European countries in terms of commercial energy efficiency. Saving energy and creating efficiencies are key concerns for the education sector; and this new service will help schools and colleges to connect with the right source of finance for their specific energy needs.
Last week, Climate Change Minister Greg Barker announced that ReEnergise Finance was one of a select group of companies being heralded as the Green Deal pioneers.
Adam Hewson, Director, ReEnergise Finance comments: "Schools and colleges in the UK have a responsibility to keep their energy costs as low as possible. Many education facilities are old and hemorrhaging heat and energy and these inefficiencies are being passed on in increased costs to the parents or the tax payer.
Adam continues: “In an environment where banks are restricted and reluctant to lend against what is perceived as new technology, there is increasingly a need for a specialist intermediary. In reality, finance is available in the UK for renewable energy; the trick is finding it and working with a partner that will get you the right deal. Government schemes are available but you have to have already invested in energy efficient equipment to qualify. We’re offering schools and colleges the chance to do that, which we see as the final piece in the energy puzzle.”
Finance packages are available to schools and colleges across the UK from £75,000 right up to £5 million for projects involving renewable technologies such as biomass, solar, wind or heat pumps in addition traditional technologies that improve energy efficiency. Finance packages are available through unsecured asset finance, secured commercial loans and as individual project finance. Businesses which invest in renewable energy could make average returns of over 10%.*
Delmatic supports a bright new Faculty building for Coventry UniversityAdam concludes: “What is apparent is that different technologies require different forms of finance with different terms. We can offer customised finance for schools and colleges looking to improve levels of insulation or the general efficiency of heating, lighting, ventilation or air conditioning systems. We can also assist in an investment in renewable technologies such as solar and biomass. These can make a big difference to reducing running costs across a campus and offer very attractive payback times – as long as you have the finance in place at the start to make the initial investment.
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“We have expertise in technical solutions, in depth knowledge of installation and project management and we understand how to build a finance deal around those things. We’re targeting schools and colleges that have been considering an energy efficiency solution but have been hampered by finding appropriate finance and independent advice.”
On the back of the founding team's 45 years combined experience in the debt markets, ReEnergise Finance aims to offer a fresh approach to the market, making the process as simple and efficient as possible for customers and partner equipment providers.
ReEnergise Finance, which will become a Green Deal finance provider, also plans to launch a domestic finance offer later in 2012.
*Source: The Carbon Trust
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