Bristol, Devon and Plymouth Councils have a secured a further €1.9m in grant funding from the European Investment Bank and the European Commission to spend on energy projects.
The cash comes from the European Local Energy Assistance (ELENA) programme and the councils will use it to fund energy efficiency, renewables, sustainable transport and heat networks projects across South West over the next three years.
Bristol City Council secured £50m in ELENA funding almost five years ago and it will use this latest tranche to enable energy efficiency retrofits of both business and domestic premises.
Bristol is also using ELENA funding to help develop energy projects to a point at which they are investible – and councils in the region are trying to create a £100m South West Low Carbon Fund to attract and leverage private debt funding.
Devon County Council’s cabinet member for environment, councillor Roger Croad, suggested the latest grant would be a catalyst for much greater investment.
“We anticipate that this funding will stimulate Devon’s renewable energy sector and lead to at least £16m being invested into low carbon projects in the county,” he said.
See details here.