London Energy Efficiency Fund Announces a Green Loan Facility to the Salters’ Company
The London Energy Efficiency Fund (LEEF), established by the Mayor of London’s Green Fund through the EU JESSICA initiative and managed by Amber Infrastructure, is delighted to announce that it has agreed to provide a loan facility to The Salters’ Company, one of the 12 Great Livery Companies of the City of London.
The loan facility will support the installation of energy saving measures across two sites, including the headquarters of the Salter’s Company, Salters’ Hall, on Fore Street in the City of London, which is in the process of undergoing a major refurbishment.
The Salters’ Company aims to reduce its energy usage by approximately 40% and achieve a minimum BREEAM “Very Good” rating demonstrating its commitment to the green agenda.
The Salters’ Company, who were advised by SPARK Advisory Partners, is very pleased to have been able to access these funds in order to refurbish its Hall to the highest efficiency standards possible. A Livery Company, whose strong historical links with the City of London stretch back 600 years, it sustains a lively fellowship through its civic responsibilities and longstanding charitable activities. Science focused, over a million children have taken Salters’ Science courses across the country at A level or GCSE in the last 10 years. As part of the redevelopment project, Salters’ Hall will be connected to the Citigen heating and cooling network. The LEEF facility, by enabling the Company to make its buildings more efficient and economical to run for itself and its future tenants, will assist in maintaining its key charitable activities and at the same time allow it to continue to support the Lord Mayor and the London Corporation whilst remaining to be based in the heart of the City.
LEEF is a £100 milllion sustainable investment fund with £55 million remaining to invest in energy efficiency retrofit projects in London by the end of 2015. LEEF makes investments in the expectation that capital will in time be repaid and recycled into further energy efficiency projects. LEFF investment is available to the private sector, as well as public, voluntary and third sector bodies.
LEEF provides investment opportunity across a great range of buildings and bodies in London allowing them to benefit from flexible and competitive long-term financing terms and delivering Energy Savings (kWh) in excess of 20%. LEEF is able to provide successful applicants with debt or equity investments in the range of £1 - 20 million.
Leo Bedford, Director for LEEF at Amber Green, said:”We are pleased to have been able to provide this facility to The Salters’ Company. We hope other Livery companies, and indeed any public or private buildings in the capital, can make use of our dedicated finance to reduce their energy bills and carbon footprint at a time when energy efficiency is at the top of the political and business agenda.”
Matthew Pencharz, the Mayor’s Senior Advisor for Environment and Energy, said: “We are determined to make London more energy efficient to save on energy bills and reduce CO2 emissions and I am delighted that The Salters’ Company has chosen to take advantage of the LEEF scheme to make our city greener.”
For further information:
Erica Sibree Amber Fund Management Limited
+44 (0)20 7939 0558
Jack Hickey FTI Consulting
+44 (0)20 7269 7196