News | Wednesday, 25 February 2009

Renewable Energy finds BOV Support

Malta Enterprise has just 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.
In support of this, Bank of Valletta is offering a financing and co-financing package to assist those enterprises that would like to benefit from this scheme. 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 can invest in the installation of intelligent lighting schemes, solar heating, thermal insulation, building management systems and energy-saving lighting. Firms can also invest in energy generation solutions such as solar power and wind turbines. Interested parties can 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.
The introduction of this financing and co-financing package by Bank of Valletta forms an integral part of the Bank’s commitment towards safeguarding the environment.
Further information can be obtained from any BOV Branch, from the BOV Website www.bov.com, or from the BOV Customer Service Centre on 21312020. All loans are subject to normal bank lending criteria and final approval from a BOV branch.

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