Public sector green funding body Salix has announced that academy schools are now eligible for interest-free loans to spend on replacing their lighting and other inefficient technologies.
Schools can now apply for an interest-free loan to finance up to 100 per cent of the costs of energy-saving projects under the SEELS4 programme, which is operated by Salix on behalf of the Department of Energy and Climate Change.
However, under the new funding agreements, academies must first get the consent of education secretary Michael Gove to take out a loan. The consent applies initially for any Salix loan to which an academy has made a formal contractual commitment in this current financial year. Once the academy has agreed with Salix to take out this type of loan, the academy must notify the Young People’s Learning Agency, which funds academies, of the value of the loan so that a central record is maintained of the overall capital impact.
Read the original article in this month’s edition of Lux Magazine.