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More cash for public sector energy efficiency loans

Independent not for profit company Salix Finance received an additional £20 million from the Department of Energy and Climate Change for its public sector energy efficiency loans programme.

The additional funds were awarded at the end of last year and will be available from projects throughout England until March this year.

With the principal aim of assisting those in the public sector to reduce energy bills and carbon emissions, the scheme is open to all those involved, from schools and universities to local authorities and NHS Trusts. 

Salix states that loans are provided for energy efficient projects that pay for themselves within five years through lower energy bills.

Repayments are made from the money saved on energy bills and, with organisation continuing to benefit from the low carbon equipment and the saving it delivers after the loans are repaid.

Salix says it supports over 120 types of energy efficiency technology, which has resulted in funding for over 7,500 projects to date, with an average payback from energy savings of 3.5 years and an average expected lifetime of 13 years.

The £20million funding is for allocation to projects by the end of March 2012, and will be paid by the company to successfully completed schemes before the end of December 2012.

The funding will be allocated on a first come first served basis.