Catherine Murphy (Kildare North, Independent)
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109. To ask the Minister for Communications, Energy and Natural Resources if he will outline the initial categories of projects being considered for loans under the energy efficiency fund; the approximate interest rate that will be charged on loans advanced from the fund; and if he will make a statement on the matter. [28509/13]

Pat Rabbitte (Dublin South West, Labour)
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The Energy Efficiency Fund (the Fund) will be established with the aim of providing finance to energy efficiency projects in the public and private sectors. The aim is to attract matching funding from the private sector, such that the overall amount available for investment is ultimately greater than €70 million.

The Fund will be managed by an independent fund manager and operate on a fully commercial basis. As a result, it is not possible at this point to provide a clear indication of the interest rate that will be charged as this will be dependent upon a number of factors, including the level of risk, the nature of the project and expected return to potential investors.

While the Department and the SEAI are working closely to identify a number of exemplar energy efficiency projects, it will be the responsibility of the fund manager to identify a pipeline of suitable projects in the public and private sectors for investment.