£80m to invest in London energy efficiency retrofit projects

July 2013: The London Energy Efficiency Fund (LEEF) was established in November 2011 with £100m to invest in energy efficiency retrofit to public sector-owned / occupied buildings. To date one loan has been made to the Tate Modern.

LEEF has just announced that it is now open to offering loans to the private sector also stating that “The £100m fund has £80m remaining to invest in energy efficiency retrofit projects in London by the end of 2015.”

A presentation by the LEEF team to the recent BASELondon conference provides some additional information setting out that loans can be accessed for up to 10 years and interest rates from 1.65% if:

  • You are a public, private or voluntary sector body;
  • Your project is in the Greater London area;
  • Your project contributes to improved energy efficiency through reducing consumption and/or carbon emissions; and
  • Your funding requirement is between £1m and £20m.

The presentation also illustrates (below) how LEEF funding compares to other typical public sector funding opportunities, such as Salix Finance, the Public Works Loan Board (PWLB), the Higher Education Funding Council for England (HEFCE) and the Green Investment Bank – stating that LEEF offers higher affordability and higher availability than all these other funds.

Further information at www.leef.co.uk.

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