Renewable energy finds BoV support

Malta Enterprise has issued a €10 million EU grant scheme for the private sector, focusing on energy saving and the use of alternative energy sources. This scheme forms part of the EU allocation of structural funds allocated under the programming...

Malta Enterprise has issued a €10 million EU grant scheme for the private sector, focusing on energy saving and the use of alternative energy sources. This scheme forms part of the EU allocation of structural funds allocated under the programming period 2007-2013, entitling eligible enterprises to receive a 50 per cent rebate on eligible expenses.

To support the scheme, Bank of Valletta is offering a financing and co-financing package to assist enterprises seeking to benefit from the initiative. Through this package the bank is offering 85 per cent upfront financing with a repayment period of seven years with competitive interest rates.

Under this energy saving measure, firms may invest in the installation of intelligent lighting schemes, solar heating, thermal insulation, building management systems and energy-saving lighting. Companies may also invest in energy-generation solutions such as solar power and wind turbines.

Interested organisations may present projects with a minimum project value of €25,000 and a maximum value of €200,000. The minimum grant under this scheme cannot be less than €12,500 nor exceed €100,000.

For information call at any branch, visit www.bov.com, or phone 2131 2020. All loans are subject to normal bank lending criteria and final approval from a BoV branch.

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