Business energy users could benefit from a three-year deal between the Carbon Trust and Siemens designed to advance loans for energy efficiency measures.
Firms could receive £550 million to purchase energy saving equipment and cut their power usage, the Guardian reported.
Opening on April 4th, the scheme will offer loans to small and medium sized enterprises with the Carbon Trust assessing the cost-saving benefits of each applicant.
Tom Delay, chief executive of the organisation, told the newspaper: "Driving green growth in the UK is key to our economic recovery.
"A missing ingredient at present is access to affordable finance to enable business to make green investments. This new major finance facility will improve business competitiveness, cut carbon and boost green growth," he added.
The news comes after the Cumbria Green Business Forum called on the government to clarify its position on Britain's green energy future so as to attract businesses and other agencies to invest in the industry.
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