The D2N2 LEP has launched a £6.5m grant fund to deliver a range of capital projects in the low carbon sector across D2N2.
This call will support national and sub regional policy including HM Government’s “Net Zero Strategy: Build Back Greener” and the “The Ten Point Plan for a Green Industrial Revolution”. Both of which set out ambitious targets for carbon reduction and incentivising investment in both the public and private sector in to Green and carbon saving projects.
The D2N2 low carbon growth fund will support low carbon capital projects to create a pipeline of investable propositions, which can be match funded to help our region meet challenges around high carbon dioxide output and unclean industrial practices.
- Successful projects must identify new and innovative ideas, and must be able to clearly demonstrate current or future carbon reduction, including carbon sequestration.
- Funding will be capped at £1.5 million of D2N2 funding per project to enable the pot to invest in numerous key strategic investments.
- Projects must demonstrate match funding towards any project of up to 50% and be able to start delivery in the 2022/23 financial year.
- Expression of interest documentation publicised, and consultation process opened – 1st December 2021
- Consultation for project sponsors to be closed – 12th January 2022
- Submission deadline for all bids – 28th January 2022
- Scoring process finalised – 11th February 2022
- Projects informed of outcomes – 14th February 2022
Frequently Asked Questions
- Can this funding be used for ongoing staffing costs and resourcing? No, these costs would count as ongoing revenue costs and therefore cannot count as capital expenditure
- Can my organisation submit more than one project per funding round? Yes, organisations can submit more than one bid however they may be asked to prioritise submissions by the assessing body.
- Can revenue funding be included as match for this project? An element of revenue can be included if this counts as an ‘in-kind’ contribution. However, the D2N2 LEP would expect to see some capital match funding.
- What is the minimum level of match funding for this project? The minimum match funding required to submit an application is 50%, D2N2 will consider lower match funding amounts in extraordinary circumstances
- Can I submit an expression of interest for installation of Solar PV, Electric Car Charging points and LED Lighting etc.? Organisations can submit these projects however they will need to demonstrate how this is an innovative and new solution to Low Carbon Growth.
- Will there be another stage to the process to release funding? D2N2 will require all projects to deliver a Final Business Case to enable a funding decision from its Investment Board.
Should any potential project sponsor have a query about the call or any details relevant to this funding round then please contact Tom Goshawk either at Tom.firstname.lastname@example.org or 07528398317.
All questions and queries regarding this funding round must be made before the 12th of January 2022.