London Energy Efficiency Fund Loan to Croydon

Meeting: 
MQT on 2013-11-20
Session date: 
November 20, 2013
Reference: 
2013/4250
Question By: 
Murad Qureshi
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Can the Mayor provide full details of the £20m loan provided by the London Energy Efficiency Fund (LEEF) to the London Borough of Croydon? What in particular merited this project being funded?

Answer

Answer for London Energy Efficiency Fund Loan to Croydon

Answer for London Energy Efficiency Fund Loan to Croydon

Answered By: 
The Mayor

The £20m repayable loan is to finance energy efficiency measures at a number of the Council's properties including Fairfield Hall, libraries, schools and other civic buildings. This should result in overall energy savings of 20% and 4,950 tonnes CO2 reduction per year. Some of this work will be done through the RE:FIT framework.

The project fulfils the fund's investment criteria, as set out on LEEF's website www.leef.co.uk, and was duly assessed and approved in accordance with the fund manager's independent investment appraisal process.