Siemens Financial Services has agreed to
partner with the UK’s Carbon Trust to provide at least £550 million
of finance for green equipment to UK small business over three
years.
No preferred suppliers have been chosen and
the programme has no link to Siemens products as such.
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Jonathan Andrew CEO SFS chief executive Europe
and Asia, said: “This is proper green financing. Lots of companies
have been unwrapping products under the banner of green financing,
and jumping on the bandwagon, but they don’t always understand the
assets. With infrastructure assets the cost is paid for by power
savings. This programme covers assets that will be generating
savings.”
“It’s not constrained to leasing, it’s
whatever fits the customer whether it’s a loan, hire purchase or
lease. It’s about the predictability of payment. We see strong
demand for products that align payment with the savings a customer
will make.”
Andrew added that £550 million was not a cap.
“If we can write £1 billion, then great. We see this as a huge
opportunity.”
The finance provided will cover assets from a
range of manufacturers.
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By GlobalData“There are few areas of new asset production
that are not trying to build in energy efficient processes,” Andrew
said.
The Carbon Trust’s role in the arrangement is
to help businesses to assess equipment against certain
environmental and efficiency standards.
Andrew said: “Our portfolio across Europe is
two-thirds non-Siemens products. The business is run by banking
standards, all our business is written at arms length.”
“This programme is focused on helping SMEs to
invest in and upgrade assets and infrastructure where they can make
a level of saving. Biomass heating technology is now available to
small and mid-size business. If you invest in the technology you
get payback very quickly.”
One Carbon Trust-backed project to install
energy-saving lighting throughout a shopping centre produced huge
savings in power consumption. Other projects have covered street
lighting and traffic lights, and energy-saving power turbines.
