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.
EIF will provide flexible investment and debt funding for energy projects in Scotland that will facilitate, catalyse and accelerate Scotland’s transition to a low carbon economy.
EIF 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
EIF is a gap funder, and will only invest where there is a demonstrable funding gap in a project’s funding package.
Community groups and projects in the process of assembling a funding package should contact the EIF team early in the process to register interest.
To be considered for the fund, contact the team as soon as possible.
Projects must have a demonstrable funding gap, be located in Scotland and have the potential to provide economic benefits to Scotland.
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 R&D, feasibility or pre-development costs.
Our team has significant experience of the complexities of community-owned renewables initiatives, and work closely with the Scottish Government’s Community and Renewable Energy Scheme (“CARES”) and Local Energy Scotland.
Applications are welcome from community groups and/or national or regional organisations which are not profit-distributing (typically charitable bodies such as housing associations).
Applications are welcome from projects developing energy projects that result in significant carbon reductions. Projects must be committed to the principle of community benefit as outlined in the Scottish Government’s good practice guidelines.
EIF 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.
EIF is a discretionary fund, with projects assessed on a case by case basis. If you think your project might fit the bill, talk to the team early. The sooner we know, the more we can help.
The fund can provide flexible loans and equity investments, all on fully commercial terms.
No, the fund is designed to support projects at the test or commercialisation phase. Highlands and Islands Enterprise and Scottish Enterprise have separate funds for R&D projects.
To be considered for the fund, please fill in your contact details on the form as soon as possible.
There are other funding schemes that may be alternatives, or complementary, to EIF. We would be happy to discuss these with you. We can work with you to shape your project appropriately.
Make an initial enquiry and one of our advisers will then be in touch to talk you through the next steps and how we can help.