Vital Energi nabs decarbonization funding worth $90.8Mn in the UK

By Tejaswita Tiwari  | Date: 2022-06-08

Vital Energi nabs decarbonization funding worth $90.8Mn in the UK

Vital Energi has secured $90.8 million of the UK Public Sector Decarbonization Scheme (PSDS) funding for its international clientele.

Reportedly, Salix Finance is acting as the medium administering the PSDS funding on behalf of the Government-led Business Energy and Industrial Strategy (BEIS) – which announced the distribution of $694.7 million to 160 public sector organizations via Phase 3a of PSDS.

The latest funding is the first in a total of $1.79 billion funding earmarked to be administered through Phase 3 until 2025. The next round – Phase 3b – is scheduled to open in September.

Speaking on the latest development, Ashley Malin, Managing Director of Vital Energi (Solutions) stated that the team has been working closely with its clients to guide them through the PSDS 3 application process.

Malin added that the company has also attracted 13% of the overall funding amount to support 9 projects across a spectrum of public sector entities such as law courts and NHS trusts.

Malin emphasized on the potential of PSDS in enabling public sector organizations to achieve their decarbonization goals with considerable support from the funding.

Vital Energi will also install a variety of energy conservation tools right from insulation and BMS upgrades to LED lighting and sustainable technologies like solar systems and heat pumps.

Deployment of renewable energy schemes will not only curb carbon emissions but will also allow significant financial savings, for instance, the money saved on energy bills can be focused on enhancing patient experience in hospitals. 

Essentially, the funding will enable participants to deliver projects using the state-of-the-art technologies and will save up to 15,000 tonnes of carbon annually.

As per Lord Callanan, Business and Energy Minister, using cleaner tech for heating civic infrastructure is saving public sector organizations the skyrocketing costs associated with fossil fuels.

Imperative to note that a minimum carbon removal of 70 to 220Gt is vital to ensure that net emissions are in line with the globally agreed climate goals.

Source Credit: https://energydigital.com/renewable-energy/vital-energi-secures-72-3mn-uk-decarbonisation-funding

About Author

Tejaswita Tiwari     thisisourtownrichmond.co.uk

Tejaswita Tiwari

Being born in a family of readers, Tejaswita has always had a natural flair for writing, using that enthusiasm to become a full-fledged writer after earning her MBA in Marketing. Her insatiable curiosity to learn about various verticals has made her a popular research...

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