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European Investment BankEuropean Investment Bank
The London Green Fund – a JESSICA Holding Fund
Frank LeeJESSICA and Investment Funds division, European Investment Bank
Brussels, 29 November 2011
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The London Green Fund (a JESSICA holding fund) established in late 2009 to invest in carbon reduction projects in line with the Climate Change component of the London Plan
Focused on energy efficiency, waste and decentralised energy as the “3 biggest carbon reduction opportunities for London”
Governed by representatives from the Greater London Authority, the Environmental Agency and the London Waste and Recycling Board. The Mayor’s environmental advisor sits on the Investment Board
Energy EfficiencyUrban Development
Fund
£35m
London Green FundLondon Green Fund£100m*
Managed by EIB
London Waste &Recycling Board
£50m
Private finance
£50m
* £15m remains available for further investment
Urban Projects Urban Projects
The London Green Fund
Private finance
Waste Urban Development Fund
Equity type investment
Loan type investment
Low riskHigh risk
Min £50mMin £35m
Aiming to deliver outputs/impacts on job creation, tons of carbon saved, and minimum energy usage savings
£32m£32m
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Insulation Building management technologies
Cooling equipment Low carbon heating
London Energy Efficiency Fund
Low cost financing in exchange for carbon reduction benefits
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London Energy Efficiency Fund
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Investment Strategy
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RE:FIT building energy efficiency programme
RE:FITBUILDING ENERGY EFFICIENCY FOR TOMORROW
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Eligible Expenditures
Typical ECMs
•Variable speed pumps and fans
•PC shutdown software
•Voltage optimisation
•Insulation•Draft proofing•Lighting upgrades
& controls•Building
Management System Controls and strategic review
•Heat recovery•Boiler
replacements
1E Nightwatchman software for PC auto shutdown
•Combined Heat & Power
•Solar thermal•Photovoltaic cells
European Investment BankEuropean Investment Bank
LONDON GREEN FUNDLONDON GREEN FUND
Contact details: [email protected]; [email protected]
