Please note: this is an archived news article release

This article was published on Thursday, 5 July, 2018. The information contained within may be out of date or inaccurate. News articles and media releases older than 60 days are archived for future reference.

Farmers can save on energy costs with environmental upgrade finance

The finance is provided through an Environmental Upgrade Agreement (EUA) and allows access to capital that was previously unavailable to farmers and business owners to improve their business and land.

Greater Shepparton City Council Team Leader Business and Industry, Michael Carrafa said “As property and business owners, Greater Shepparton farmers and horticulturalists have the opportunity to gain from exciting changes occurring in energy, waste and water technologies.”

“An Environmental Upgrade Agreement (EUA) can help you access capital, freeing up cash flow and helping you complete projects that give your business long term security and cost savings. There are no upfront costs for your project, you simply repay the loan via a fixed quarterly charge on your property rates notice,” said Mr Carrafa.

“The Sustainable Melbourne Fund (SMF) helps you access the EUAs and Council manages the repayments via the rates system. It’s fairly straightforward and we have a couple of local businesses who are already seeing significant savings on their energy costs after installing solar panels,” he said.

“The SMF are also reporting on some other case studies from farmers and horticulturalists where the installation of solar panels has resulted in cost savings and security for the businesses into the future.”

The benefits of an EUA include:

Extended finance loan terms to increase cash flow
No additional security requirements (personal, business guarantees, mortgages or registered charges)
Reduced business risks with fixed repayments
No hidden costs - 100% finance for hard and soft costs
No costly and complicated refinances

Farmers interested in finding out more can contact Michael Carrafa at Greater Shepparton City Council on 5832 9700 or the Sustainable Melbourne Fund on 1300 432 044 or click here for more information.