The Greater Manchester Low Carbon Fund is a new loan fund to promote the production and distribution of energy derived from renewable resources in the region. The £15 million Greater Manchester Fund is managed by GVA. It has been allocated from the 2014-2020 European Regional Development Fund and has a lifespan of 15 years.
The Greater Manchester Low Carbon Fund has been launched by the Greater Manchester Combined Authority and is managed by real estate advisory service GVA.
£15m has been allocated to the 15-year fund, to promote the production and distribution of energy derived from renewable resources.
The fund will be allocated to projects that require a flexible approach to finance due to the new technology involved, or to projects that would be improved through the Low Carbon Fund’s expertise.
It can invest up to 50% of eligible costs and investment repaid by projects will be recycled into further projects across the Greater Manchester region. Our preference is to fund through Senior Debt, but we are open to other routes to support your project.
The fund is targeting investments between £1million and £3million, although other investments will be considered.
Funding is designed to suit the project, and timescales are flexible.
Who’s it for?
Public / quasi-public-sector bodies
The Fund is open to Local Authorities, Government Bodies, NHS and Private Health bodies to apply for investment. Match Funding requirements apply.
Public-private joint ventures
Our investment is ideally suited to public-private partnerships and joint ventures undertaking carbon-saving projects. Our Fund Management team is experienced in structuring investments that work for the public and private sectors.
Our investment is structured to fit project needs and is an additional source of development finance to projects undertaken by developers who would like funding and expertise to improve their carbon performance.
Our investment is flexible and covers a wide range of projects that support a reduction in the rate that carbon is consumed in the Greater Manchester region.
The projects below are examples and we are keen to support innovative technologies that conventional finance finds difficult to support.
Our investment can be applied to installation of wind turbines either as part of a wind farm or dedicated to a property development.
Energy from waste
We are able to invest in plants that use waste to generate heat and power and we are also able to support more innovative technologies that have the potential to transform waste into other energy products.
Biomass Combined Heat and Power (CHP)
We are looking to invest in all types of Biomass Combined Heat and Power generating projects – heat only, heat & power and heat, power cooling projects.