14th August 2018
The Mayor of London’s Energy Efficiency Fund (MEEF) was unveiled last month (July 2018), sporting a £500m budget available to invest in small businesses and public sector organisations use of low carbon measures. The fund has been introduced as part of the Mayor’s goal to reduce London’s carbon emissions by 60% by 2050, with a focus on energy efficiency, decentralised energy and small scale renewables.
Amber Infrastructure Group has been appointed to manage the fund, which is now currently welcoming applications for funding. The investment amount for each project will vary in size, but the MEEF is aiming for investments between £3m to £20m, but will consider investments of £1m plus.
The fund builds on the success of the London Energy Efficiency Fund, which was also introduced by the Mayor. There are several types of funding on offer, with the investment period of up to 20 years. The fund can cover up to 100% if the capital costs of a project, but is also available for part funding large scale regeneration projects that have low carbon credentials.