The Amber Green Consortium, led by Amber Infrastructure Limited (Amber), the leading sponsor and manager of social and economic infrastructure projects, has achieved contract signature for the £50m JESSICA Scotland fund, to be named SPRUCE (Scottish Partnership for Regeneration of Urban Centres)
The fund is part of the Joint European Support for Sustainable Investment in City Areas (JESSICA) programme which is being rolled out across Europe, offering a unique opportunity for public and private co-investment in regeneration and energy projects.
The Scottish Government, using capital from the European Regional Development Fund, and its own resources, has contributed £50 million to establish SPRUCE, which will offer loans to regeneration and energy efficiency projects in 13 local authority areas in Scotland.
The vehicle will invest in a wide range of projects from transport and infrastructure to development of office and commercial space, including support for innovative approaches to energy efficiency retrofit measures. Projects in 13 local authority areas are eligible for investment, determined by the Scottish Index of Multiple Deprivation. These are Clackmannanshire, Dundee, East Ayrshire, Edinburgh, Fife, Glasgow, Inverclyde, North Ayrshire, North Lanarkshire, Renfrewshire, South Lanarkshire, West Dunbartonshire and West Lothian.
This is Amber’s third JESSICA fund under management. Amber manages the JESSICA fund in Wales through the £55m Regeneration Investment Fund for Wales (RIFW) and the £100m London Energy Efficiency Fund (LEEF), making it the European market leader in investing JESSICA public funds for a financial and socio-economic return.
Cameron Cook, Head of Origination for Amber Infrastructure Limited in Scotland, commented: “We are delighted to have been selected to work with the Scottish Government and the European Investment Bank on the creation and the implementation of The SPRUCE Fund for Scotland. Amber Infrastructure Limited has unparalleled JESSICA fund management and public sector partnerships experience which will ensure that the long-term objectives for the fund are met. We are committed to investing in regeneration and energy efficiency projects that will provide long-term benefits to local communities throughout Scotland.”
For further information:
Amber Infrastructure Limited
Jenny Curtis +44 (0)20 7939 0597
Leo Bedford +44 (0)20 7939 0573
Cameron Cook +44 (0)20 7939 0560
Erica Sibree +44 (0)20 7939 0558
Ed Berry / Harry Stein +44 (0)20 7269 7297 / 7141
Amber Infrastructure is a leading full service infrastructure Group, with over £4.1 billion of assets under management, operating in the UK, Europe, Australia and North America. Amber’s core business focuses on sourcing, developing, advising and managing infrastructure assets within the PPP, transport, renewable energy and regeneration sectors.
Amber provides investment advisory services to International Public Partnerships Limited (a FTSE 250 listed specialist global infrastructure investment company) as well as private investment funds,specialising in urban regeneration. Amber is headquartered in London with offices in Munich, Sydney, Melbourne and San Francisco and employs approximately 60 people, making it one of the largest