Thursday, September 2, 2010
Housing Associations to invest in PV Solar power
It is working with the European Investment Bank to set up a vehicle that could finance retrofit across the UK social housing sector.
The EIB could commit a minimum of £75 million to the fund. However, it is understood to prefer larger scale loans in the order of £200 million, with which it would lend 50 per cent of the costs, meaning that the fund could be worth much more than this. The fund is intended to act as a green loan facility for associations to borrow through the Housing Finance Corporation at very low rates over a period of at least 25 years.
Around 25 housing associations would need to participate in order to make the fund work successfully.
Improvement work would focus on installing photovoltaic panels and renewables to take advantage of the government’s feed-in tariff scheme. (from Inside Housing read more here)
If you are Housing Association tenant or leaseholder why not ask your landlord what are they doing ?