A new COVID-19 response scheme by Invest Northern Ireland, focussed on supporting businesses to become more resilient through green efficiency, is now open for applications.
The COVID-19 Energy Efficiency Capital Grant is a £500,000 scheme and will provide support for the installation of energy efficient equipment.
Kevin Holland, CEO Invest NI said: “We have launched a range of COVID-19 response schemes to support different businesses, different sectors and different activities. These schemes assist businesses to adapt to the current COVID-19 environment by finding new ways of working, and support their growth into the future.
“This latest scheme is specifically focused on supporting energy efficiency initiatives that will make businesses more resilient and deliver long term cost savings and carbon savings. It will provide a grant towards the installation of equipment that offers greater efficiency in the use of energy.
“Supporting businesses to make these investments now will ensure they benefit from the long term savings by being more energy efficient, well into the future.”
Examples of energy projects that will be eligible under the COVID-19 Energy Efficiency Capital Grant include LED lighting systems, heating and cooling equipment, process insulation and replacement drives and motors. For full details on the scheme visit www.nibusinessinfo.co.uk/eecg
The new scheme will provide eligible businesses with a maximum grant of up to £80,000 towards 20 per cent of the eligible costs of installing energy efficient equipment.
“As well as the long term cost savings for the business, investing in green energy initiatives is also good for our environment”, added Kevin.
“There is a substantial economic recovery opportunity in decarbonising energy as we grow the green economy across Northern Ireland. Growing this sector is also a vital part of responding to climate change and building a better environment for the people of NI. It is anticipated that this scheme will act as an initial step in the development of longer term support for business.”
Projects supported by the COVID-19 Energy Efficiency Capital Grant are required to demonstrate a simple financial payback between 1 and 6 years through energy cost savingsas well as a reduction of carbon emissions by at least 10 per cent.
Full details on the scheme, its criteria and eligibility are available on nibusinessinfo.co.uk
The scheme will close to applications at 5pm on 7 January 2021.