AIB hosted an energy seminar on 5th March for SMEs in the South East area who want to drive down their energy costs and increase their competitiveness. Over 50 SMEs attended the seminar which was held in the Granville Hotel and speakers included AIB’s Head of Energy and Clean Technologies, Ray O’Neill and on behalf of SEAI, Brian Scannell.
The theme was helping businesses to reduce their energy costs and improve profitability. AIB research shows that energy accounts for approximately 9% of operating costs, averaging nearly €70,000 for the typical SME. To support SMEs invest in energy saving measures such as heating, lighting, cooling systems, etc., AIB recently launched a €100 million fund for lending to allow SMEs to radically lower their energy bills. This fund is unique in that the bank will take into account the projected savings from energy efficiency projects when calculating the borrower’s repayment capacity. Qualifying SMEs can also avail of discounted funding supported by the European Investment Bank (EIB).
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