Geowarmth Heat Pumps Solar Biomass Renewable Energy

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Renewable Energy Solutions   0191 257 1704 info@geowarmth.co.uk

Loans for businesses

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Renewables installations at no capital cost to your business

Working with our various funding partners,  Geowarmth are able to provide their business and commercial clients with access to loans to fund renewable energy projects.
 
New, efficient renewable energy systems should lower energy bills and provide income, for example from the Renewable Heat Incentive (RHI).  With financing payments calculated so that they are offset by anticipated savings, the financing option is designed to pay for itself.   As a rule of thumb the installation should pay back in 5 years to enable funding.  The repayment period for the loan is typically 3 to 7 years.  After the loan is repaid the client then benefits fully from the savings and income the installation has provided.
 
Geowarmth’s client would contract with Geowarmth in the normal manner for the installation and have a separate loan agreement with the funder.  The loan is interest bearing but unsecured and it may be possible to structure it off balance sheet.  The business or institution to whom the loan is made needs to provide 3 years of accounts for credit assessment.
 
The scheme includes a suite of services in addition to Geowarmth’s installation, commissioning and client training.  These include project management, a system design supported by Professional Indemnity insurance,  assistance with any complex RHI metering arrangements, preparation of funding assessment and other documentation, credit checking, golden rule checking, independent validation together with support in establishing fuel contracts.  In addition to Geowarmth’s installation quotation there may also be an additional project management fee to cover this process.
 
There are really no minimum or maximum sizes of installations to which this financing scheme could apply, subject of course to client credit assessment.
 
Energy Efficiency Financing is available for a wide variety of projects all assuming they meet the golden rule.  Renewable heating projects could include the installation of biomass boilers, heat pumps or combined heat and power plants.  The payback on some of these projects (energy savings plus RHI) can be comfortably less than 5 years.  Photovoltaic panels could be added.  Whilst payback is usually greater than 5 years with PV, but often less than 10, if combined with a heating project the overall payback could meet the golden rule.
 
In addition to renewable energy projects, the Energy Efficiency Financing could be used for other building technologies such as insulation, lighting replacement or more energy efficient production processes.  Combined projects can also be funded.
 
Advantages
 
The advantages of a Geowarmth installation together with Energy Efficiency Financing:
  •   No obligation  free of charge assessment
  •   Fast  allows your project to proceed promptly
  •   Better cashflow  designed so that savings and income exceed payments
  •   Affordable  tailored terms over 1 to 7 years
  •   Easy budgeting  loan repayments are fixed
  •   Additional credit  your existing credit lines are maintained
  •   Tax efficient  tax deductible finance payments
  •   Flexible  the finance solution can change with your business requirements
  •   Future proofed  the initial installation can be upgraded in the future
  •   Conserves working capital  financing keeps existing cash for other business needs
  •   Low carbon  reduce your carbon dioxide emissions
 

Process

Once a funding opportunity has been identified, Geowarmth will complete a summary of the project.  Together with our project management partner we will produce a funding assessment for our client’s consideration.  If our client is interested in proceeding on a funded basis we will then obtain credit approval.  Once this has been received we will require a commitment from our client to cover the cost of the design, application process and project management.  A detailed design will then be produced for final approval by the funder.
 

Interested?

 
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