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Green Deal loan company in line for £49 million package

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The Green Deal Finance Company are a firm set up to provide loans as part of the government’s flagship efficiency energy programme. DECC has put forward a proposal to provide a £34 million fund, subject to contract.

Private sector investors, including all the Big Six energy suppliers and companies like Carillion, PwC and Insta Group, could also provide funding worth up to £15 million.

The Green Deal scheme allows householders to make improvements that could save energy, such as double glazing and home insulation, with the cost being funded by a loan that is added to the homeowners energy payments.

The GDFC currently has more than 8,000 ongoing plan applications worth nearly £29 million and is receiving requests worth £1.51 million a week.

Mark Bayley, GDFC Chief Executive said: “We are now also consulting our investors on our sensible step-by-step plan to enhance the PAYS model and increase its availability to a wide market.”

Formal consent is due to be given by the investors by the 3rd December.

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