The Carbon Trust and Siemens have announced a partnership to provide UK businesses with green equipment finance worth up to £550 million over the next three years.
This new deal is being targeted to boost green growth and unlock business investment in the low carbon economy. The new dedicated low carbon finance scheme will enable UK businesses to invest in cost effective energy efficiency equipment or other low carbon technologies, such as new efficient lighting and biomass heating.
All businesses will be able to apply for new green growth finance from the scheme from 4 April 2011. Under a Heads of Agreement signed between the two parties Siemens Financial Services Ltd. in the UK (SFS UK) will provide the financial backing and manage the provision of funding and the Carbon Trust will assess the carbon, energy and cost savings of any application. This will enable the financing to pay for itself through energy savings.
The Carbon Trust and Siemens Financial Services have also agreed to finance a new commercial venture that will increase the take up of energy efficiency projects. This venture will offer procurement support to businesses wishing to purchase energy efficiency equipment at scale from a network of accredited suppliers and will be launched later this year.