Energy
CARES loan fund
/ 0
- Details
- Friday, 18 February 2011 16:29 Tamsin Morris Hits: 725
Although details are still sketchy, the Scottish Government has launched the Communities and Renewable Energy Scheme (CARES) Loan Fund.
The fund will be fully operational from April 2011 and aims to provide loans towards the cost of the high risk, pre-planning consent stages of renewable energy projects. The scheme will be open to community groups as well as to land-managers and farmers, provided there's some community benefit from their proposals. Loans of up to £150,000 will cover up to 90% of the costs of the pre-planning stages. The loans are then repayable at commercial rates if the project is successful, but are written off if the project fails to gain planning consent.
You can complete an expression of interest in the fund here and read the full Scottish Government press release here.
