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Renewable Heat Technologies to generate cost savings for SMEs
29 March 2010
SMEs looking to invest in the latest Renewable Heat Technologies are being given a helping hand by the Northwest Regional Development Agency (NWDA) as part of the £4.3 million Grant for Improving Your Resource Efficiency.
Launched last year and supported by the European Regional Development Fund (ERDF), Grant for Improving Your Resource Efficiency provides an enhanced level of investment to small to medium sized enterprises (SMEs), to enable particular projects to go ahead that will contribute to reducing Co2 emissions and generate wider environmental benefits in the region.
50% grant support is available for SMEs to invest in the Renewable Heat technologies. The Grant will go towards the cost of purchasing and installing the capital equipment.
Technologies include ground source heat, air solar thermal, combined heat and power and biomass (renewable heat).
Minimum Grant support is £10,000, with a maximum the equivalent of €200,000.
'Grant for Improving Your Resource Efficiency' is part of the Government's Solutions for Business, the Government's package of publicly funded business support designed to help companies start and grow.
The Grants will allow the companies to operate on a more efficient, usually faster and more competitive basis, making carbon savings and generating jobs.
Steven Broomhead Chief Executive, NWDA said:
"It is important that SMEs have the support available to invest in new technologies that promote energy efficiency. The NWDA is pleased to make available the Grant for Improving Resource Efficiency, which adds to the number of Business Finance packages available within the region to sustain future economic growth."
The NWDA is playing a crucial role in response to the current economic downturn, with a number of actions being taken to meet the needs of businesses during these challenging times
To keep updated on the range of support being offered by the NWDA visit www.nwda.co.uk/supportingbusiness
For further information on business support in England's Northwest go to www.businesslink.gov.uk/northwest
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Notes to editors:
For further information please contact Shelley Tattersall, Press Officer on 01925 400256 or mobile 07500 128482 or shelley.tattersall@nwda.co.uk For urgent out of hours press enquiries please call 01925 400259.
For further information and to view previous press releases visit us at www.nwda.co.uk or www.erdfnw.co.uk
Between 2007 and 2013 the Northwest of England will receive a total of £521million (dependent on exchange rate) from the European Regional Development Fund (ERDF).
Managed by the Northwest Regional Development Agency (NWDA), this funding will enhance the competitiveness of the region's economy by supporting growth in employment and enterprise.
Key targets for the NWOP include:
• Creating 26,700 net additional jobs by 2015
• Generating £1.17bn additional annual GVA by 2015
• Supporting a 25% reduction in addition CO2 emissions
generated by the ERDF Programme.
The Northwest Regional Development Agency (NWDA) works to deliver economic success in England's Northwest by building the competitiveness of its businesses, people and places. Utilising our technical expertise and strategic influence, we help the region's 250,000+ businesses to develop and grow, as well as supporting international trade and encouraging inward investment.
