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Frequently Asked Questions (Smart Power Loan Fund)

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Frequently Asked Questions (Smart Power Loan Fund)

Smart Power Loan Fund

FAQs

For details, please refer to the Terms and Conditions of Smart Power Loan Fund (SPLF) attached in the SPLF Guide to Application.

What is the financial assistance provided by SPLF?

Under SPLF, collaborating banks will provide loans for implementation of energy efficiency enhancement projects, while HK Electric will subsidise the respective loan interests to help successful participants of Smart Power Energy Audit and/or Smart Power Building Fund (both of which are effective from 1 January 2019) to implement such projects.

What does "interest-subsidised loan" mean?

The collaborating banks will arrange the loan for participant while HK Electric will subsidise the loan interest on a reimbursement basis.

Who is eligible for SPLF?

Any non-residential registered customers of HK Electric (except HKSAR Government) who has successfully participated in Smart Power Energy Audit and/or Smart Power Building Fund is eligible.

How can I submit my SPLF application?

You can return the application form and other required documents to us via either one of the following ways:
1. email to SPLF@hkelectric.com; or
2. by post to Head of Customer Business Development, Customer Services Division, 4/F, Hongkong Electric Centre, 44 Kennedy Road, Hong Kong.

Will the interest subsidy cover bank charges required for loan application?

You bear at all times the sole obligation to pay to the collaborating bank directly the principal, interest, loan arrangement fees, handling charges, any late payment charges, bank charges and all other payments in relation to the loan arrangement.

Am I still eligible for SPLF if my project has received grants from other parties?

Yes. The project costs eligible for our consideration shall be those after deducting all contributions, grants, loans or rebates from other funding sources (including subsidy from Smart Power Building Fund).

Are all project cost items (e.g. lift decoration) covered under SPLF?

Only cost items including costs of materials, installation, testing and commissioning, etc., that directly contribute to energy saving and/or energy efficiency enhancement are eligible.

What is the maximum loan principal I can have?

The maximum loan principal amount of each project shall be $3 million or 80% of the project costs after deducting any contributions, grants, loans or rebates from other funding sources (including subsidy from Smart Power Building Fund), whichever is lower.

Can I submit multiple loan applications?

Yes. Multiple applications from the same applicant are allowed provided that (i) they cover different energy efficiency enhancement projects, and (ii) the cumulative approved loan shall not exceed $6 million.


Enquiry Hotline & Email

Hotline: 2510 2701
Enquiry email: SPLF@hkelectric.com

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