Equitix and UK Green Bank Invest In Installation of Wood Fired Boilers
By Leigh Teixeira
The London based investment firm, Equitix LTD will be investing around £10 million in a project which aims to exchanging ineffective heating systems in private and public facilities with new biomass boilers powered with wood shavings.
Just under half of the investment (£4.9 million) will come from its Energy Saving Investment fund. One of the investors in this fund is the UK Green Investment Bank. The rest of the money will come from the firmís Energy Efficiency Fund. Equitix hope to support up to 60 projects that will reduce carbon emissions and cut energy bills by up to 30%.
The aim of the project is to allow various organisations like businesses, leisure centres and school to change the ageing ineffective, environmentally unfriendly boilers for modern, energy efficient, minimal emissions biomass boilers. This will help to cut down on carbon emissions and help these organisations to save money and use less energy.
Roundwood Energy Ltd will be funding, installing, maintaining and supplying the heating systems with fuels for two decades. They will be working in conjunction with Woodpecker Energy Ltd who will be supplying the wood pellets.
One of the top priorities of the Green Investment Bank us energy efficiency. Although only having started in November it has been given £3 billion in funding. It will be putting £50 million into energy efficiency through Equitix. Private investors will be matching this amount. Only projects with a value below £30 million will qualify to receive funding.
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