University energy efficiency investment scheme proves a success
A scheme that saw £25m invested in university energy efficiency projects has proved to be a great success, doubling the value of the original fund, representatives of the Salix public sector energy efficiency financing scheme have recently revealed.
In 2008 the Higher Education Funding Council for England (HEFCE) and public sector energy investors Salix jointly commited £25m into an energy efficiency pot to fund energy saving projects at UK universities. HEFCE and Salix each committed £10m to the initial fund, with a further £5m contributed by a coalition of 57 universities across the country
Institutions which are loaned money from the Revolving Green Fund to finance energy efficiency work return any energy cost savings they realise to the Fund until the loan is paid off.
In a joint statement released yesterday the partnership announced the original £25m investment has now enabled more than £50m of energy projects to go ahead through universities recycling the proceeds in energy savings in a way that enables further efficiency investment. In total the projects, which include laboratory, lighting and insulation upgrades, are expected to deliver £210m in total energy savings.
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