LONDON ENERGY EFFICIENCY FUND ANNOUNCES A GREEN LOAN FACILITY TO THE SALTERS’ COMPANY The London Energy Efficiency Fund (LEEF), established by the Mayor of London’s Green Fund through the EU JESSICA initiative and managed by the Amber Infrastructure, is delighted to announce that it has agreed to provide a loan facility to The Salters’ Company, one of the 12 Great Livery Companies of the City of London. The loan facility will support the installation of energy saving measures across two sites, including the headquarters of the Salter’s Company, Salters’ Hall, on Fore Street in the City of London, which is in the process of undergoing a major refurbishment.
The Salters’ Company aims to reduce its energy usage by approximately 40% and achieve a minimum BREEAM “Very Good” rating demonstrating its commitment to the green agenda. The Salters’ Company, who were advised by SPARK Advisory Partners, is very pleased to have been able to access these funds in order to refurbish its Hall to the highest efficiency standards possible. A Livery Company, whose strong historical links with the City of London stretch back 600 years, it sustains a lively fellowship through its civic responsibilities and longstanding charitable activities. Science focused, over a million children have taken Salters’ Science courses across the country at A level or GCSE in the last 10 years. As part of the redevelopment project, Salters’ Hall will be connected to the Citigen heating and cooling network.
The LEEF facility, by enabling the Company to make its buildings more efficient and economical to run for itself and its future tenants, will assist in maintaining its key charitable activities and at the same time allow it to continue to support the Lord Mayor and the Corporation whilst remaining based in the heart of the City. LEEF, is a £100m sustainable investment fund with £55 million remaining to invest in energy efficiency retrofit projects in London by the end of 2015.
LEEF makes investments in the expectation that capital will in time be repaid and recycled into further energy efficiency projects. LEFF investment is available to the private sector, as well as public, voluntary and third sector bodies. LEEF provides investment opportunity across a great range of buildings and bodies in London allowing them to benefit from flexible and competitive long-term financing terms and delivering Energy Savings (kWh) in excess of 20%. LEEF is able to provide successful applicants with debt or equity investments in the range of £1 – 20 million.