Energy Minister, Pat Rabbitte, has announced the launch of a capital fund to support sustainable energy investments in 2012 in the public, commercial, industrial and community sectors.

The fund will make available €7.5 million for projects that support energy performance contracting; a key element of Ireland’s National Energy Efficiency Plan. Public sector projects are particularly encouraged in order to assist in meeting the 33% public sector energy efficiency improvement target in 2020.

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Commenting, Minister Rabbitte said: "Building on the success of previous schemes, this fund will ramp up the competitiveness of Irish business by delivering real savings in an affordable way for both public and private enterprise. This is a timely example of organisations in Ireland working towards best practice in energy efficiency to deliver real benefits in all sectors of our economy."

Applications for funding will be evaluated on a competitive bid basis, with the scheme open now. Successful applicants will be notified in June.

The 2012 iteration of the scheme builds upon the strong success of previous programmes run in recent years (2009-2011). Over €23m was provided to energy projects delivering an estimated annual energy saving equivalent to powering and heating over 23,000 homes.

(CD/GK)