The investment comprises £4.9m from its Energy Saving Investments fund, with the UK Green Investment Bank being its lead investor and a further £5.1m from its Energy Efficiency Fund.
Roundwood Energy will work in collaboration with wood pellet and wood chip biomass boilers manufacturer Woodpecker Energy to fund more than 60 projects from a public and private sector industries.
GIB chief executive Shaun Kingsbury said: "Today’s announcement will provide a low-cost and straightforward way for a range of organisations like schools, leisure centres and local businesses to switch their old, inefficient and high emission boilers for new energy efficient biomass ones; saving energy, cutting emissions and saving them money."
The projects will use sustainable wood pellets, besides reducing green house gas emissions by around 150,000 tons over the 20 year life of the project.
