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Sunday, January 22, 2012
BRISTOL is setting up a citywide energy services company to spearhead green energy projects worth up to £140 million.
The programme was launched at Redland Green School yesterday by the city council, which says it will benefit thousands of taxpayers and help create up to 1,000 jobs.
Bristol is the first local authority in the country outside London to receive a £2.5 million grant from the European Investment Bank (EIB) to meet most of the costs of developing the energy services company and investment programme.
The company will be owned by the council on behalf of the people of Bristol.
It intends to secure half of its funding - about £70 million - from the European Investment Bank, the rest from private sector investment. It will generate income through energy savings and energy generation.
The investment programme aims to improve the energy efficiency of more than 6,000 homes and public buildings through wall insulation and other measures.
It intends to make use of UK financial incentive arrangements that are in place or are being created by the Government. These include:
? Feed in Tariffs, which support small-scale renewable electricity generation through solar photovoltaic panels, wind turbines or hydropower turbines.
? Renewable Heat Incentive, which is a Government subsidy to support biomass, ground source, water source, solar thermal and biomethane projects.
posted in: EmployerNews, News
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