Renewable energy scheme to benefit businesses |23 June 2016

Added to households which were already benefitting from the Seychelles Efficiency and Renewable Energy Programme – a government initiative whereby commercial banks and the Development Bank of Seychelles (DBS) finance investment in renewable energy, small businesses can now also benefit from the scheme.

This follows the signing of an agreement between the banks, the Ministry of Finance, Trade and the Blue Economy and the Seychelles Energy Commission (Sec) to further extend the Seychelles Efficiency and Renewable Energy Programme (Serep) scheme to small businesses.

Under the programme, businesses can benefit from a loan from a commercial bank or from DBS amounting to a maximum R150,000 with 5% repayment interest, permitting to invest in energy efficient and environmentally friendly appliances.

The agreement was signed yesterday afternoon at the Ministry of Finance by the Minister for Finance, Trade and the Blue Economy Jean-Paul Adam, Sec chief executive (CEO) Tony Amadua and the banks’ representatives.

Minister Adam has commented that the agreement is part of government strategy to better tackle our development strategies, by making investment more sustainable and make businesses more affordable.

As there is not much interest in the scheme up to now, Mr Imadua is on his side calling on households and businesses to come forward and make their applications.