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Salfix - 100% Interest Free capital finance loans
1. Nicolle Paisley
Client Support Officer
Salix Finance
Mike Blades
Energy and Sustainability Officer
Northumbria Healthcare
100%
INTEREST
FREE
2. Introduction to Salix Finance
Salix funding and the NHS
Knowledge sharing and case studies
Case Study- Mike Blades-
Northumberland Healthcare NHS
Foundation Trust
Summary of the loan application process
Our aims for today
5. Salix funding supports over
100 energy efficiency technologies
Boiler replacements
Building energy management
systems
Combined heat and power
Heat recovery
Heat networks
Heating and hot water upgrades
Building fabric insulation
Lighting upgrades
Street lighting
Solar PV
Technologies
6. Salix Funding Criteria
The loan must be repaid in 5 years
The cost of CO2 must be less than £172 per tonne over the lifetime
of the project
Funding can be used to replace or improve existing equipment
Enhance equipment in new builds to achieve higher standards
Projects with paybacks over 5 years can be part funded
8. Salix working with the NHS
Funding available for NHS Trusts & Foundation Trusts
NHS Improvement approve of Salix’s Invest to Save model
Support for Sustainable Development Management Plans/ Carbon
Reduction Management Plans
Funding secured over multiple years to support long term estates
strategies (including EPC)
11. Knowledge Sharing
More than 80
case studies
Over 200 PKS
(project
knowledge
slides)
Annual free regional
workshops
NHS specific slides include:
Gaining internal approval
Accounting for Salix loans
12. Imperial College Healthcare NHS Trust
Since 2009, Imperial College Healthcare NHS Trust have utilised £9.4 million Salix 100%
interest-free funding across three of their five hospitals.
Projects include:
£3,011,897 heat recovery and hot water
upgrades
£2,949,301 BEMS
£1,750,460 T5 and LED lighting upgrades
Estimated Savings:
£2,403,028 annual savings
£32,057,867 lifetime savings
3.8 year average payback
13. Northampton General Hospital NHS Trust
Since 2009, Northampton General Hospital NHS Trust have utilised £1,740,995 Salix 100%
interest-free funding, covering 18 project types across over 30 Salix applications.
Projects include:
£301,339 LED lighting
£49,425 pipework insulation
£300,339 Building management system
Estimated savings:
£548,123 annual savings
£8,072,577 lifetime savings
3.1 year average payback
15. About Our Relationship
• Northumbria Healthcare have worked with
Salix finance since 2009
• We engaged with Salix on the grant funded
recycling scheme
• Salix granted the trust £200,000 which the
trust match funded
• The fund has provided a significant amount of
carbon savings and contributed to the trust
CIP
16. What is the Recycling Fund
• This was a grant that provide the trust with an
amount of money that they had to match fund
• In simple terms the fund provides a loan to fund
a project that might not happen without that
funding
• The savings of the project are used to repay the
loan, with that value being available to reinvest in
future projects
• It is a ring fenced spend to save fund that recycles
the repayments for the loan
20. Project Status
• We currently have 6 on-going projects with a
value of circa £177K
• We have 24 projects that are still repaying the
loans with a value of £circa £600k
• We have 18 projects that have repaid their
loans with a value of circa £523K
• Project types are Thermal insulation, BEMS
upgrade, LED Lighting, Boiler controls,
Invertors, Draught proofing etc
21. Summary
• The recycling scheme is easy to manage
• Salix provide tools to help estimate savings
• They provide tools to capture the data from
projects
• And provide information that can be included
in annual reports
22. SOLVING ENERGY EFFICIENCY FINANCE IN THE PUBLIC SECTORWWW.SALIXFINANCE.CO.UK
Salix application process
23. Key Application Steps
1. Visit our website at www.salixfinance.co.uk
2. Simple online application process:
Complete a project compliance tool
For projects over £100,000 – complete business case template
Attach supporting documents
3. Public sector body or supporting body submits application
4. An automated email is generated and sent to the authorised official
which they need to reply to confirming their approval
5. Application assessed and decision made typically within two weeks
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25. Summary
100% interest free funding available for NHS
Trusts and Foundation Trusts – no maximum
loan amount
Cost neutral - loan repaid through savings
Helping the NHS achieve energy and carbon
reduction targets
Supporting long-term funding plans, SDMPs,
estates strategies
Reduce energy bills at your Trust
Who we are
Salix have been working in the public sector since 2004 and allocate funding from government departments to provide the upfront capital to install energy efficient technologies. This funding is repaid but has no interest or fees attached and can be used towards over 100 different technology types including boilers, LED lighting, heating controls and large CHPs.
As with all borrowing options, Salix loans are accounted for on your books however we work closely with NHSI and the Salix Invest to Save model is approved by them and it is clearly visible in NHS financial reports.
We can help put you in contact with the central finance team at NHSI and we can ensure they are happy for you to take up a Salix loan even if it doesn’t meet the £15m threshold of ‘needing’ their approval just to give you peace of mind.
Who we are
Salix have been working in the public sector since 2004 and allocate funding from government departments to provide the upfront capital to install energy efficient technologies. This funding is repaid but has no interest or fees attached and can be used towards over 100 different technology types including boilers, LED lighting, heating controls and large CHPs.
As with all borrowing options, Salix loans are accounted for on your books however we work closely with NHSI and the Salix Invest to Save model is approved by them and it is clearly visible in NHS financial reports.
We can help put you in contact with the central finance team at NHSI and we can ensure they are happy for you to take up a Salix loan even if it doesn’t meet the £15m threshold of ‘needing’ their approval just to give you peace of mind.”
Independent, not-for-profit company established in 2004
Provide 100% interest-free capital finance for the public sector
National profile working in England, Wales, Scotland and N. Ireland
Funded by BEIS, Scottish and Welsh Government, EFA and DfE
Support public sector bodies including local authorities, educational establishments and NHS Trusts and Foundation Trusts
We can also look at other technologies not included on the list
Most popular with NHS atm is CHP, LED and boiler upgrades
What can be included in Salix loan:
- Installation costs
- Project development/design costs including surveys
Project management costs
Age of building not relevant
All proposed costs are examined as part of the Salix technical checks and invoices are to be sent to Salix as evidence of costs once the project is complete
As with all borrowing options, Salix loans are accounted for on your books however we work closely with NHSI and the Salix Invest to Save model is approved by them and it is clearly visible in NHS financial reports.
Working alongside NHSI. We share our data with NHSI who are kept up to date with anticipated loans and so are aware of those who may have this option.
A major barrier we’ve found are Trust CRLs
In response to this we have been working closely with NHSI to see if this can be adjusted
We can help put you in contact with your regional NHSI contact or the central finance team at NHSI to start discussions regarding your CRL
In MOST circumstances they may be able to adjust the CRL to accommodate the loan.
We expect the next FY figures to increase significantly as the number and size of projects increases
Since 2007 we have worked with 58 Trusts & FTs
Salix have been working with the NHS since 2007 and have worked with 58 Trusts and Foundation Trusts to fund over £58million of projects. These projects are expected to save the NHS almost £17m per year and over £246m over the lifetime of the technologies. These projects will also save almost 88,000 tonnes of carbon per year providing a significant contribution to the set targets
As well as providing funding to the public sector, Salix also aim to spread knowledge to help organisations learn from others. We do this by having an extensive array of Project Knowledge Slides and case studies.
Sharing of knowledge between clients
Before and after
Supporting comments
Experiences
Lessons learnt
Supplier
Contact details
£3,011,897 heat recovery and hot water upgrades
£2,949,301 BEMS
£1,750,460 T5 and LED lighting upgrades
Estimated Savings:
£2,403,028 annual savings
£32,057,867 lifetime savings
3.8 year average payback
£3,011,897 heat recovery and hot water upgrades
£2,949,301 BEMS
£1,750,460 T5 and LED lighting upgrades
Estimated Savings:
£2,403,028 annual savings
£32,057,867 lifetime savings
3.8 year average payback
Ladies & Gentlemen, good afternoon.
My name is Mike Blades and I am the energy & sustainability officer for Northumbria healthcare.
Salix finance have asked me to relate our experience of working with them for over ten years.
We have worked with Salix finance since 2009 when we engaged with to set up a grant aided recycling fund.
This consisted of a grant from Salix of £200,000 with the trust providing equal match funding.
This spend to save recycling fund has provided a significant value in terms of both carbon reduction and has also contributed to the trusts cost improvement programme.
A win win outcome.
What is a recycling fund.
This consist of a grant that Salix provided to the trust and match funding from the trust of an equal amount. So we received £200k and added £200k to provide a fund of £400k to be invested into projects.
These projects must meet Salix Finances criteria in term of payback, cost of carbon per tonne over the lifetime of the building.
The fund acts to provide a loan for the project which may not have seen the light of day were it not for these funds being available.
The savings provided by the project are used to repay the loan over a number of years, which allows for money to be regenerated to invest in future projects.
The fund is ring-fenced to ensure this funding is available until projects no longer meet the criteria.
As of November 2017 the value committed has been almost £1.3M with completed projects valued at around £1.2M.
The cumulative amount of carbon reduction is just over 2,100 tCO2e.
The cumulative savings to date are over £387K.
The current status as of December 2017 is that we have 6 on-going projects, 24 projects that are still repaying the loans and 18 projects that have repaid their loans and now contribute CIP.
Salix have a large number of technology types that they support, this is a few of those we have invested in.
To summarise:
The recycling scheme is easy to manage
Salix provide tools to help estimate savings
These tools capture the data from projects
And provide information that can be included in annual reports
Quickly show an overview of the application process
Our application process is all online
Before applying, you can register for access to our knowledge sharing area to help with your application
We are also happy to look over applications before they are made, if you have any queries
We have a key application document called the Compliance Tool which is where you enter the project details including savings and this tool will automatically calculate whether it is compliant within the 5 year payback and value for money criteria.
Once an application has been submitted we aim to assess the project within 2 weeks dependent on the level of supporting information provided. Once we’ve committed the funding you’re free to go ahead with install and repayments begin a few months after completion of the project.
Salix tend to get involved in projects once an organisation knows which technologies they want to implement and have an idea on costs and savings.
We are happy to look over your Business case – gives you confidence in your savings and payback figures
At the stage of getting approval – happy to meet with finance departments to run through the Salix offer.
Further technical assistance is available for all projects over £100k, where an external auditor will review and provide feedback on your project
Happy to meet with finance departments
Salix can provide a reservation of funding once we have seen calculations if this would help you with board approval and we can put you in touch with other Trusts that have done similar projects or faced similar barriers to you to help overcome issues.
Throughout installation we can arrange interim payments as you progress the project – eg. Interim payments to pay suppliers. Otherwise, loan is paid after the project completion
