Energy Investment Fund

Support provided by Scottish Enterprise

What does this involve?

The Energy Investment Fund (EIF) is a Scottish Government Fund managed and delivered by the Scottish Investment Bank. It builds on the success of the Renewable Energy Investment Fund, providing commercial investment for renewable and low carbon energy solutions.

The fund will focus on:

  • increasing community ownership of energy projects in Scotland (including community stakes in commercial developments)
  • accelerating the development of commercial low carbon energy projects in Scotland

A total of £20 million has been allocated to EIF for distribution by 31 March 2020 from the Scottish Government.

 

Am I eligible?

Projects must have a demonstrable funding gap, be located in Scotland and have the potential to provide economic benefits to Scotland.

Community groups and projects in the process of assembling a funding package should contact the EIF team early in the process to register interest.

If you're seeking funding for projects beyond 31 March 2020, we'll be happy to talk you through your funding options directly.

What does this cost?

There is no cost to apply.

Who is this for?

Community groups and/or national or regional organisations which are not profit-distributing (typically charitable bodies such as housing associations).

Applications are also welcome from projects developing energy projects that result in significant carbon reductions.

 

How long does this take?

Application time varies depending on the complexity of each application and the nature and stage of the project. 

The process from original diligence and approval to completed investment is likely to take 3 - 6 months.

Important information

Consideration will be given to both the short and long-term economic impact of projects, and will include a focus on both the fit with the Scottish Government’s Energy Strategy and the impact.

Projects must be able to evidence the expected carbon emission reduction associated with the project and use no more than 20% fossil fuels (including gas) within the primary fuel source for generation projects.

The fund will not fund research and development, feasibility or pre-development costs.

Projects must be committed to the principle of community benefit as outlined in the Scottish Government’s good practice guidelines.

The fund will consider follow-on commercial investment into companies within the REIF current portfolio. Investment decisions will be made on a fully commercial basis and on the merits of the individual opportunity.

Next steps

Submit an enquiry and an adviser will be in touch to talk through your options and help you apply for funds.

Support provided by Scottish Enterprise

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