Amber infrastructure Group has launched a £500 million investment fund to support energy efficiency projects in public sector organisations and small businesses across London. The Mayor’s Energy Efficiency Fund (MEEF) is being launched in collaboration with the Mayor of London, working through the European Regional Development Fund (ERDF) and supported by lenders including Lloyds, NatWest, Santander UK, Sumitomo Mitsui and Triodos.

The fund will offer a range of funding options to deliver new low carbon technology or to retrofit or upgrade existing low carbon infrastructure, with investment periods of up to 20 years. It is hoped it will have a positive impact in hospitals, museums, offices, libraries, social housing, universities and small business premises; helping to fund projects including battery storage, electric vehicle charging infrastructure, decentralised energy, small-scale renewable energy generation, energy efficiency and low carbon data centres.

“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,” said the Mayor of London, Sadiq Khan. “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.”

Joanne Patrick, MEEF Director at Amber Infrastructure Group, said: “MEEF seeks to address market failure in London’s low carbon sector by providing flexible and competitive finance to enable, accelerate or enhance viable green infrastructure across London’s boroughs. It’s a key part of the Mayor’s strategy to improve the capital’s existing building stock and improve the energy performance of new buildings – helping homes, businesses and public buildings to use less energy and save money on energy bills.”

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