A new £20 million fund designed to support NI businesses acquire and implement energy-efficient equipment has launched.

The five-year programme is now open for applications and will offer businesses grants of up to £150,000 for investments in areas such as lighting, heating and cooling equipment, motors and drives, compressed air systems, and onsite renewable energy generation.

This new scheme represents a pivotal step towards realising our vision of a greener, more prosperous economy.

Launching the Energy Efficiency Capital Grant (EECG) Department for the Economy Permanent Secretary, Ian Snowden said: "This new scheme represents a pivotal step towards realising our vision of a greener, more prosperous economy.

"The grant will help companies invest in technologies that reduce energy consumption and carbon emissions. This will lower costs for businesses and also progress Minister Murphy's decarbonisation journey towards net zero as set out in his Economic Vision."

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The EECG will play a pivotal role in realising the Energy Strategy's mandate of delivering a 25 per cent reduction in energy consumption from buildings and industry in Northern Ireland by 2030.

The EECG programme is our commitment to empower businesses to embrace energy efficiency measures that will not only reduce operational costs but also contribute significantly to our collective journey towards a net-zero future.

Kieran Donoghue, CEO of Invest Northern Ireland, said: "At Invest NI, we are committed to driving economic growth hand in hand with environmental responsibility. The EECG programme is our commitment to empower businesses to embrace energy efficiency measures that will not only reduce operational costs but also contribute significantly to our collective journey towards a net-zero future.

"The grant is available to a wide range of businesses in sectors from retail to advanced manufacturing to hospitality. Using less energy and utilising the energy we do use more efficiently is vital to reduce carbon emissions and lower energy bills. By empowering businesses to 'do more with less', we are safeguarding our environment and nurturing a resilient and prosperous economy for generations to come."