The London Energy Efficiency Fund (LEEF), entered into a £13.3m loan agreement with St. George’s Hospital NHS Foundation Trust, to finance an Energy Performance Contract (EPC) with British Gas.

St George's Hospital-sml.jpg
St George's Hospital-sml.jpg
Sector
Status
Location
Ownership
Financial close
Concession term

THE BACKGROUND

LEEF finance supported the installation of low carbon technologies identified in the EPC, providing guaranteed savings to the Trust and allowing St. Georges, one of the UK’s largest teaching hospitals, to put savings towards critical medical care, training and research facilities.

The St Georges project is one of the largest EPC health projects in the UK, and includes a new CHP plant, a re-modelled energy centre and broad energy efficiency retrofit technologies.

The investment is expected to deliver the following outcomes:

  •  Energy spend reduced by 25%; a net saving of over £1.3m per annum to the Trust during its 15-year life
  • Savings of a forecast 7,000 tonnes of carbon (equivalent to removing over 6,000 cars from the road) and reducing energy usage by 6,500,000 kWh

Facts

Annual savings generated for the NHS

£1.3m

Reduction in CO2 emissions each year (tonnes)

7000 t