ENERGY SMART FUND
The Energy Smart Fund (hereinafter referred to as "Smart Fund") was established to provide financial and technical support to renewable energy (RE) and energy efficiency (EE) projects in Barbados.
Type of Financing Provided:
Funding to assist businesses with the implementation of technically and economically viable RE and EE projects.
Loans are restricted to a maximum of $1.5 million per applicant. Energy efficiency and conservation projects, as well as distributed scale renewable energy projects are eligible for financing under this facility.
Eligible Applicants:
Businesses operating in Barbados (regardless of size of annual sales or revenues, and regardless of line of business), including hotels, are eligible to receive funding under this facility. Priority is given to Small and Medium-Sized Businesses, consistent with the definition by the Central Bank of Barbados. Click on the Guidelines for the Smart Fund Loan Facility below for the definition of SME businesses.
Other Services Provided:
Technical assistance up to $40,000 per applicant for funding pre-investment studies of RE and EE projects, to assess their technical and financial viability and support their implementation prior to obtaining loan financing. Click on the Technical Assistance Guidelines below for further details.
Loan Security:
Security is required, usually in the form of a first legal mortgage and/or any other collateral that might be deemed as necessary. The Smart Fund may take second mortgages in instances where the market realisation value of the underlying security is adequate to liquidate all prior charges, as well as the Smart Fund's exposure.
NEW SMART FUND ESTABLISHED
Funding available for renewable energy and energy efficiency projects in Barbados!
EGFL is now ready to receive applications for the Pilot Consumer Finance Facility.
