You Can Now Invest In Sustainable Technology Without Breaking The Bank
Anyone looking to invest in sustainable systems for their home or business can now benefit from a 0% interest loan to make that happen.
BOV and APS have partnered up with the European Investment Fund (EIF), mandated by the Maltese Managing Authority for the European Regional Development Fund, to deliver 0% interest loans for investment into electric and hybrid vehicles, energy efficiency and renewable energy initiatives.
The EERE financial instrument is available to private individuals, SMEs, Mid-Caps, large enterprises, constituted bodies and entities in the public and private sector which do not qualify as “undertaking” within the meaning of state aid rules.
The combination of EERE FI with other grant schemes is also possible, provided the EERE loans are not used to pre-finance the grant. EERE aims to help Maltese entities and individuals go green in a faster and more affordable manner.
Potential loan applicants will be interested to know that EERE is complemented by an advisory support package, implemented by the European Investment Bank (EIB) and PwC. Access to this support can be requested through BOV and APS.
EERE is time bound and any disbursements would need to be carried out by December 2023. To access EERE financing support kindly get in touch with BOV or APS through the contact details provided below.
Some of the investment types that can be financed under EERE in Malta include:
- Purchase of electric or hybrid vehicles
- Charging Stations for electric vehicles
- Building insulation Lighting Windows & Doors
- Domestic Hot Water Cooling and heating Ventilation Systems
- Building and Energy Management Systems
- Connection to Energy Supplies Photovoltaic systems
- High energy efficient motors Variable speed drives on electric motors and fans
- High efficiency compressors
- Reuse of waste heat from equipment
- Compressed air systems Improvements in process efficiency
- Process control systems to reduce idling time
- Demand response management Absorption cooling systems
- Energy monitoring, filtering, power factor correction, voltage regulation
- Water saving measures (e.g. water recycling and rainwater reuse)
For more information, please visit the EERE website here.
Tag someone who needs to know!