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IDAE cooperates with banks in new efficiency and renewables investment incentive program |
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Wednesday, 02 April 2008 |
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The Energy Diversity and Savings Institute (IDAE) has signed an agreement
with Banco Santander and Banesto, which become in this way the partner financial
entities of its new investment incentive program. This aims at promoting Energy
Efficiency and renewable energies use projects through paid savings deposits at
an annual nominal interest rate of 7%.
 The amount of the aid provided by IDAE reaches three million euro (one
and a half million through each entity) and will pay, above market interest
rate, for the savings deposits. The beneficiaries will receive these aids when
their investments are effectively made and justified, exclusively in the type
of projects above mentioned, reveals the entity’s press release. This is an
impulse measure framed both in the Savings and Energy Eficiency Strategy for Spain’s 2008-2012
Action Plan and in the 2005-2010 Renewable Energies Plan.
The compromise to fulfil the ambicious goals of both Plans has driven
IDAE to create new public support mechanisms, such as this “Deposit”, which are
able to mobilize resources for the execution of projects in those areas or
sectors that need a special thrust and involve efficiency improvements in the
industry, buildings or the transport sector. Or solar thermal, independent
photovoltaics, combined wind and photovoltaic installations, low temperature
geothermy use, anaerobic digestion and biomass-based specified applications,
etc. |
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