Energy Investment Fund
The Energy Investment Fund (EIF) provides investment and funding for energy projects throughout Scotland, via either loans or equity investments. It replaces the Renewable Energy Investment Fund (REIF).
The fund is delivered by Scottish Enterprise on our behalf, and is a temporary measure put in place until the Scottish National Investment Bank (SNIB) becomes operational.
EIF funds are awarded where an evident gap in the funding of a project has emerged that would prevent it from reaching completion. However, the scheme also aims to address other key policy priorities of ours, such as increasing community benefits in the areas where these projects are being undertaken, and maximising community investment in commercial schemes.
In 2018 to 2019 a total of £20 million has been made available for eligible applicants – both community energy projects and commercial energy projects, providing they are able to demonstrate their commitment to delivering community benefits.
Once the SNIB is functional in 2019, the bank is expected to provide low-carbon investment as part of its mission-based approach to maximising investment growth in Scotland.
The EIF’s predecessor, the REIF, was created in 2012 to provide financial support to renewables developers who had challenges in obtaining the necessary levels of finance from the market at that point in time.
The REIF was replaced with the EIF following the publication of the Scottish Energy Strategy and Climate Change Plan, where the decision was made to increase the eligibility of the funding to also encompass low-carbon energy projects.