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Salix Finance - Funding energy saving projects in Scotland’s colleges

Salix Finance - Funding energy saving projects in Scotland’s colleges EAUC-Scotland Campus Sustainability Conference 6th of May 2008 Alastair Keir & Paul Smyth – Salix Finance.

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Salix Finance - Funding energy saving projects in Scotland’s colleges

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  1. Salix Finance - Funding energy saving projects in Scotland’s colleges EAUC-Scotland Campus Sustainability Conference 6th of May 2008 Alastair Keir & Paul Smyth – Salix Finance Our mission is to work with the public sector to reduce carbon emissions through investment in energy efficiency and renewable technologies.

  2. Salix Finance – Agenda Introduction to Salix Finance Scottish HEI & FE activities Funding energy saving capital projects in Scotland’s colleges Questions?

  3. Salix Finance Introduction to Salix Finance

  4. Salix Finance – who are we? Independent not-for-profit company Set up by the Carbon Trust in 2004 Work only with public sector bodies To reduce energy costs and carbon emissions Show leadership in tackling climate change

  5. Salix Finance – what do we do? Stimulate investment Using ring-fenced funds Recycle all projected savings Focus on cost-effective projects with high CO2 reduction impact Match funding – typically £250K Reduce energy bills Make capital go twice as far

  6. Salix Finance - types of technology • The following lists the main types of technology in the fund • BEMS • Boiler replacements and controls • Cooling and heating projects including controls • Insulation Building Fabric • Lighting upgrades and controls • Motors and motor controls • Office equipment improvements and network PC management • Renewables • Swimming pool covers and controls • Ventilation • Voltage reduction

  7. Salix Finance - project criteria • Projects must deliver both CO2 & revenue benefits • Two project compliance criteria • 5 year payback period and • £100/tCO2 lifetime • Energy efficiency capital projects • As documented in the Salix Project tool • Or approval through suitable demonstration project • CHP and renewable energy technologies • Include a feasibility study carried out according to a recognised methodology

  8. Salix Finance Scottish HEI & FE activities

  9. Salix Finance - working with Higher Education in Scotland Salix currently have 8 University clients in Scotland: • Edinburgh, Glasgow, St Andrews, Stirling, Aberdeen, Abertay, Napier and Strathclyde • With Scottish Government funding added Salix have committed £4,158,000 to these universities. • Each University is now required to provide 25% of their Salix fund for further recycling projects

  10. Salix Finance Funding energy saving projects in Scotland’s colleges

  11. SALIX Finance – a new opportunity for Scotland’s colleges Salix has agreed funding with the Scottish Government to support a programme for Scotland’s colleges. The funding has to be recycled and so will be run as project loans Colleges apply for loan funding to Salix for compliant energy saving capital projects Each project must meet 3 compliancy tests: 5 year or shorter payback Be additional to anything that was be planned or is mandatory Have a lifetime cost of CO2 of less than £200/tonne Loans will be repaid over 4 years in 6 monthly instalments New projects applications will be welcome every 6 months.

  12. SALIX Finance – a new opportunity for Scotland’s colleges Application forms will be available by the end of May Subject to demand we plan to run a workshop during June Closing date for applications will be end July Assessment of applications will be done in early August Notification of success or otherwise by mid August Payment of funds on submission of invoices 1st repayment February 2009 then 6 monthly thereafter 2nd round for applications closing December 2008 with confirmation in January 2009 1st repayment from these loans in August 2009 3rd round for applications closing July 2009

  13. Salix Finance – managed a programme for English FE Colleges funded by Learning and Skills Council • LSC wanted to support sustainable projects in colleges it funds. It agreed with Salix a programme by which colleges could apply for funding for individual projects. • Salix agreed project criteria with LSC of 5 year payback and £200/t lifetime CO2 • Colleges could apply for up to £150,000 each • Applications were submitted to Salix for assessment using the Salix project compliance tool

  14. Salix Finance - working with English FE Colleges Salix / LSC Pilot Assessed applications Number of Colleges - 230 Number of projects - 1,248 Total value of projects - £ 22,721K Projected savings Annual financial savings - £ 6,441K Lifetime Energy Saving - £ 49,208K Annual CO2 saved - 47,047 T Lifetime CO2 saved - 359,457 T Average payback - 3.52 years Grant payments to be made in April 08, projects to be completed by September 08

  15. SALIX Finance – working with English FE Colleges (top 15 technologies)

  16. SALIX Finance – working with English FE Colleges (16 to 30 technologies)

  17. SALIX Finance – a new opportunity for Scotland’s colleges Do not forget that Carbon Trust Scotland may be able to assist with project identification. Contact Alan Crooks on 01355 581812 for Survey Support

  18. Salix Finance Questions?

  19. 25 Southampton Buildings, London WC2A 1AL t: 020 3043 8800 f: 020 3043 8799 info@salixfinance.co.uk www.salixfinance.co.uk

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