HEFT first stage success to secure Energy Efficiency Capital Funding

HEFT first stage success to secure Energy Efficiency Capital Funding

Virtus are very pleased that their Client; Heart of England NHS Foundation Trust has been successful in the first stage towards securing an allocation of funding from the £50m capital which has been made available by the  Department of Health in 2013-14 for NHS Trusts and Foundation Trusts, to fund new and innovative projects to improve energy efficiency and reduce the carbon footprint of the NHS by reducing energy usage, carbon emissions and improving resilience to climate change. 

This capital allocation is intended to support NHS organisations to deliver the requirements of the NHS Carbon Reduction Strategy for England (CRS).  The CRS sets an ambition for the NHS to help drive change towards a low carbon society  and to become a leading sustainable and low carbon organisation, identifying a 10% reduction by 2015 as crucial for the NHS to meet legally binding targets.

The provision of NHS healthcare services is highly specialised and energy intensive. Hospitals use a huge amount of power; energy bills cost the NHS millions every year. This fund gives hospitals the go-ahead for all kinds of efficiency projects that will help them reduce the amount of energy they use and, as a result, their energy bills meaning more money for the NHS to spend on patient care, as well as a healthier environment for future generations. Prioritising the fund at a four to five year return on investment means that the NHS will be able to reinvest energy savings of up to £12.5million per annum on front line care reoccurring. 

HEFT now target submission of their Stage Two applications by the deadline of 1st May 2013.  The Department of Health anticipate notification of successful bids and release of full/staged capital applocations to be released by 14th June 2013 to enable projects to commence.