It is 'challenging' to secure finance for green energy projects - 01/02/2011
It is difficult to secure investment for green cheap energy projects, the Greater Manchester Environment Commission has said.
Mike Reardon, strategic director at the organisation, pointed out that in a time of public spending cuts, it is getting harder to find a source of funding for green energy initiatives.
"If we are to rely upon private investment in this area, we have got to come up with some answers to the sorts of questions that they will ask," he noted.
The commission has spoken to energy suppliers and private financiers about the pre-conditions for lending at the moment, "whether it is part of the government's green deal or whether it is using feed-in tariffs", Mr Reardon explained.
"It is no surprise that you don't hear up and down the country about major cities launching these kinds of programmes because there are some real dangers to be ironed out in terms of financing deals," he added.
Mr Reardon's remarks came after the Better Building Partnership launched the Green Building Toolkit to encourage efforts in cutting energy usage, water and waste.
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