Mayor of London's Energy Efficiency Fund
The Mayor of London's Energy Efficiency Fund (MEEF) is a £500m investment fund to deliver the low carbon, sustainable projects and infrastructure London needs to tackle the climate emergency.
Since its launch in July 2018, MEEF has mobilised over £420 million of capital and reduced London’s CO2 emissions by more than 32,100 tonnes, which is equivalent to taking 29,150 cars off the road.
MEEF supports projects that deliver new low carbon technology or upgrade existing infrastructure to help achieve the Mayor’s ambition to make London net zero by 2030. These include making buildings and infrastructure more energy efficient and ensuring they are supplied with clean sources of heat and power and supporting low carbon transport in the capital.
Upgrading London’s infrastructure to net zero, including buildings, energy systems and transport, is estimated to cost around £61 billion. Public sector finances alone will not mobilise the investment required to achieve this. MEEF demonstrates how London can meet its zero carbon targets through a combination of public and private sector capital.
The fund was established by the Mayor with funding from the European Regional Development Fund and managed by Amber Infrastructure. It works by providing flexible and competitive financing to enable new or retrofit projects to adopt low carbon technologies or upgrade existing low carbon infrastructure.
Examples of how MEEF is helping to decarbonise London
MEEF provided £15 million to the London Borough of Enfield to provide over 10,000 new homes and businesses with low carbon heat and hot water, reducing the annual tCO2e by 4,972.
MEEF provided debt funding to Enfield Council to part finance the construction of their Meridian Water Heat Network. The Network is part of a £6 billion regeneration programme led by Enfield Council. The communal heat network replaces local energy generation by supplying heat and hot water through a network of new pipes. This method of energy supply is a proven technology to help reduce the amount of carbon emissions generated in heating London’s homes.
MEEF provided finance to Zenobe Energy to install a charging infrastructure solution at a bus depot operated by Abellio London in Walworth, supporting the Mayor of London’s zero emissions transport plans. This is expected to save 1,247 tCO2e and 1,069kg NOX per annum.
MEEF provided c.£1m debt funding to Zenobe Energy to part fund charging infrastructure at the Woolworth Bus Depot, serving the single decker P5 and new C10 bus routes. MEEF’s investment forms part of a wider funding package delivered by Zenobe Energy which includes the electric buses.
This innovative charging solution includes a static Battery Energy Storage system at the depot that ensures Abellio London’s charging requirements are met by the local grid infrastructure.
This is an important step in tackling London’s air pollution and supports the Mayor of London, Sadiq Khan’s commitment to zero emission transport in the capital, including a target to make all new single decker buses in central London zero emission by the end of 2020.
Epsom and St Helier University Hospitals NHS Trust provides healthcare services in South West London and Surrey across its two hospital sites at Epsom Hospital and St Helier Hospital. The Trust applied for funds from MEEF and London Energy Efficiency Fund (LEEF) to support them with the regeneration of the hospital, when it was facing closure due to the condition of the hospital facilities.
MEEF and LEEF played a pivotal role in providing funding in an initiative to upgrade ageing infrastructure across its estate.
The EPC comprises a package of energy conservation measures including LED lighting, HVAC systems, controls and central plant. It also includes installing one 800kWe CHP plant and three 2.2MWth gas boilers to replace existing steam boilers, along with the associated pipework insulation, motor replacements and controls.
The project is estimated to generate energy savings of 26% with energy bills savings of £670k and more than 4,500tC02e savings.
Find more detailed information about MEEF and Amber Infrastructure.
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