GRANT FOR ENERGY EFFICIENT TECHNOLOGIES (GREET)
Singapore, 6 November 2008 - The National Environment Agency (NEA) today announced a new incentive scheme to help companies defray the cost of purchasing energy efficient technologies and equipment. This will help companies to improve on the Return On Investment (ROI) on their energy efficient projects.
Known as Grant for Energy Efficient Technologies (GREET), a $22 million fund has been earmarked to help companies achieve energy savings in the next five years. It will co-fund up to 50% of the qualifying costs of energy efficient equipment or technologies, or up to $2 million per project, whichever is lower.
”Businesses often perceive the adoption of energy efficient technologies to be expensive and even risky. The GREET scheme will help address this concern and help companies enjoy energy savings...” said Mr Lee Yuen Hee, Chief Executive Officer of NEA and Chairman of Energy Efficiency Programme Office.
