A €75,000,000 fund for large businesses to help them reduce their energy bills has been launched by the ESB.
It will provide the funding for companies to invest in new infrastructure which reduces the amount of energy being used.
Businesses must have energy bills of more than €200,000 a year to apply.
Head of the ESB’s Smart Energy Services, Ciaran Gallagher, outlines how the scheme will work saying “We’ll put the capital up front and that’s as attractive to businesses that for various reasons have a capital constraint, we’ll operate a revenue-sharing mechanism then over a defined period of time where we will get a return on our investment and the customer enjoys a portion of the energy savings for that period of time and once that’s timed out, the asset is theirs and they’ll enjoy the full benefit of the energy savings on an ongoing basis”.
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