NEW initiatives were announced yesterday to help businesses go green, part of a $50 million kitty that includes subsidies for technology, energy-saving equipment and energy audits.

The details come hot on the heels of stiff electricity tariff hikes, which sent companies scrambling to cut costs, and led to a string of complaints sent directly to Singapore Power and to The Straits Times, and posted on blogs.

Many businesses said they would be keen to take up energy-saving measures, at a time when they are bracing themselves for a double blow.

Apart from a near 30 per cent higher power bill from now till Dec, they are also facing a shrinking demand for products due to the global financial crisis.

The National Environment Agency, announcing the details of its Sustainable Energy Fund yesterday, said that companies would get help and subsidies to design their premises in the most energy-efficient manner, create a business that would reduce carbon dioxide emissions in the air, train their own energy managers and help pay for energy efficient equipment.

For example, $6 million is available to train qualified energy managers who will help firms become more energy efficient.

Many companies here are cutting power use by switching to more efficient generators, air-conditioners and light bulbs.

Read the full story in Saturday's edition of The Straits Times.