Bids to Revolving Green Fund open

18 August 2008

Applications are now invited for a new £30 million fund available from 2008-11, which provides recoverable grants to institutions for projects that reduce their greenhouse gas emissions.

The Revolving Green Fund is a partnership between HEFCE and Salix Finance Ltd (Salix) to help institutions adopt a 'low carbon' approach to energy.

The fund opens following HEFCE's consultation with the HE sector on plans for the fund's development.

All HEFCE-funded higher education institutions are eligible to apply to the fund through two strands: an institutional small projects fund and a transformational fund. The former provides long-term, interest-free, ring-fenced, recycling funding for energy and carbon-saving projects, and is funded equally by HEFCE and Salix. The latter provides recoverable grants for larger projects designed to transform the institution's approach and act as a beacon of good practice, and is funded by HEFCE.

Steve Egan, Deputy Chief Executive of HEFCE, said:

'The Revolving Green Fund is a catalyst to support the HE sector's response to climate change and we are pleased to have developed it in partnership with Salix. As well as helping meet the Government's targets on the reduction of greenhouse gases, the fund will also support the sector in developing good practice and innovation.'

Salix is an independent, publicly funded company, set up in 2004 by the Carbon Trust to accelerate public sector investment in energy efficiency technologies through invest to save schemes. HEFCE and Salix are jointly delivering the fund as equal partners, with each partner leading on different strands.

Revolving Green Fund - outcomes of consultation and invitation to submit applications

Page last updated 10 February 2012