Bank of Valletta, together with the European Investment Fund (EIF) and the Maltese Government, is promoting an attractive financial scheme to assist enterprises in managing and reducing their energy costs and supporting them in investing in energy-efficient solutions for their business.
The BOV Business Energy Loan offers businesses several benefits to finance energy-efficient solutions. Under this scheme, enterprises can take out an interest-free loan (where interest is fully subsidised) amounting to a maximum of EUR750,000 for a maximum period of ten years, thereby ensuring that these energy-efficient investments translate into an improved and tangible payback.
This financing opportunity is available to all enterprises. It is intended to cover the eligible costs of energy-efficient and renewable solutions such as insulation, apertures, building envelope measures with impact on thermal performance, heating, investments related to hot water generation, ventilation systems, cooling, lighting, Energy Management Systems, as well as electric & hybrid vehicles and charging stations.
Before undertaking such an initiative, a good first step for organisations would be to undertake an energy study to determine which energy-saving solutions give the highest payback for the business. As more organisations embed the principles of ESG in their operations, energy and eco-financing solutions are an ideal help and make this transition much less daunting.
Speaking about the BOV Business Energy Loan, Simon Grech, Head of the Bank’s SME function, explained, “The Bank is taking a leading role in ESG matters and working on promoting a culture of responsibility towards ESG among our clients. One of the ways of doing this is by offering attractive benefits to those who are willing to take such important steps. Whilst product offerings such as the BOV Business Energy Loan help ease the burden of transition in no small way, we understand that such investment decisions could be overwhelming, so our dedicated and professional staff are ready to offer support and guidance to help organisations choose the best available options.”
Businesses can get a better understanding of potential savings in energy costs and carbon dioxide reductions achieved through financing from the BOV Business Energy Loan by accessing the web-based tool called ‘CliMalta’ that was developed by the European Investment Bank. This may be accessed through the following link. If you want to invest in green energy solutions for your business, we can help you get there. Click here to start.
The financial support and benefits are derived from the establishment of a Fund of Funds – “EERE Malta” which is co-financed by Malta and the European Union under the European Regional Development Fund (ERDF). The objective of this fund of funds and its first loss guarantee combined with an interest rate subsidy scheme is to support the access of the final recipients for their investments in energy efficiency and renewable energy measures. EERE Malta is co-financed by the Republic of Malta, the European Union under the European Regional Development Fund.
All loans are subject to normal bank lending criteria and final approval from the Bank. Further terms and conditions are available from www.bov.com. Issued by Bank of Valletta p.l.c., 58, Triq San Zakkarija, Il-Belt Valletta VLT 1130. Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap. 371 of the Laws of Malta)."