London Energy Efficiency Fund Loan to Croydon

Meeting:

Mayor's Question Time

Date:

Wednesday, 20 November 2013

Reference:

Question 2013/4250

Main question

Murad Qureshi

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

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.