Posted on: 17/07/2018
London mayor Sadiq Khan has brought together money from lenders and the European Union (EU) to create the UK’s largest investment fund for urban energy efficiency measures.
The £500 million Mayor’s Energy Efficiency Fund (MEEF) will help small businesses in London to install or update their technology.
Examples include battery storage, electric vehicle rapid-charging infrastructure, decentralised energy, small-scale renewables, energy efficiency, and low-carbon data centres
Hospitals, museums, offices, libraries, social housing, universities and other public buildings will also have access to the fund.
Zero carbon city
The Mayor of London said: “This is the largest fund of its kind in the UK that will help deliver the low-carbon, sustainable projects and infrastructure London needs to cut energy costs and reduce carbon emissions across our universities, hospitals, museums and small businesses.
“It is a great example of how the public and private sectors can come together to create millions of pounds of investment for low-carbon projects and help fast track London towards our goal of becoming a zero-carbon city by 2050.”
MEEF is supported by the European Regional Development Fund (ERDF), Amber Infrastructure Group, Lloyds Bank, National Westminster Bank, Santander UK, Sumitomo Mitsui Banking Corporation and Triodos Bank.