The Solent LEP has launched a new loan fund to fuel a green recovery of the Solent economy and lead the pathway to Net Zero in response to COP26.

The £5M Solent Building Back Greener Loan Fund is now open for applications for loan funding of between £100k and £1M for capital projects which will help accelerate the commercialisation of low-carbon technology, innovations and systems to set the region, and the UK, on the path to a low carbon future.

Applications are being invited from private sector businesses, further education colleges and universities, and social enterprises located in the Solent area.

Funding is available for capital projects that can demonstrate a contribution towards achieving Net Zero that can start by the end of June 2022, with a view to being completed by March 2024.

Priority will be given to applications for projects which align with the UK Government's Eligible Green Expenditures to meet the objectives of:

• The Protection and Restoration of Biodiversity and Ecosystems
• Sustainable use and Protection of Water and Marine Resources
• Climate Change Mitigation
• Climate Change Adaptation

The deadline for applications is 14 January 2022.