Scottish Government announces closure to its Community and Renewable Energy Scheme
Posted: Tuesday 17 August 2010
The Scottish Government has closed its Community and Renewable Energy Scheme (CARES) to new applications. The scheme, launched in 2009 with a budget of over £13m, represents the government’s commitment to such projects and was part of a wider strategy to cut carbon emissions and encourage communities to generate their own energy.
The decision to close applications not only demonstrates the large appetite for such schemes, but it highlights the significant financial commitment involved in ensuring these projects reach completion. We see continuing innovation from our clients in the banking industry to support potentially viable projects recognising that with creativity it is possible to overcome the financial hurdles. Our Finance Team is at the forefront of advising borrowers and lenders on how to plan the funding of such schemes and can assist in setting up the most advantageous financing packages with security.
The Morton Fraser Energy Team is skilled and experienced in managing complex large and small scale projects such as those represented by this scheme. Our Team can assist in all aspects of development including planning, conveyancing and construction as well as ongoing management once schemes have been established.
Our Energy Team specialises in Renewables, Nuclear & Finance for clients operating in the Energy sector.
If you would like to speak to one of our team about how we can assist you, please contact Douglas Milne on 0131 247 3181.
