The Renewable Energy Investment Fund (REIF) provides financial assistance for projects that will:
- Deliver energy from a renewable source, reduce the cost of renewable energy or provide key solutions for renewable energy generation
- Provide benefit to the economy of Scotland
- Have a demonstrable funding gap for REIF to consider
- Be at a sufficient stage of development to require REIF funding before March 2017
Examples of areas that REIF can support includes: marine energy, community owned renewables, and renewable district heating, although this list is not exhaustive.
Companies and community groups working in the area of renewable energy at the test or commercialization stage, and trying to assemble a funding package, are encouraged to make contact with the REIF team at an early stage in the process.
How companies benefit from REIF support
"The involvement of REIF was instrumental in getting the project finance package required to undertake the first phase of this seminal project. MeyGen is now the poster child for marine energy sector globally."
- Tim Cornelius, CEO of Atlantis, owners of the MeyGen project