London Energy Efficiency Fund

The project involves the financing of eligible energy efficiency schemes in the London area, also supported by JESSICA funds and structured with Technical Assistance co-financed by the ELENA facility.

Objectives

The project concerns the financing of energy efficiency projects (insulation, window replacement, boiler replacement, small scale cogeneration) including in some cases renewable energy projects (PV, biomass boilers, etc.) in publicly owned residential and non-residential buildings in the Greater London.

Comments

Sector(s)

Energy
Industry

Proposed EIB finance (Approximate amount)

GBP 45 million (EUR 52,76 million)

Total cost (Approximate amount)

GBP 100 million (EUR 117,23 million)

Environmental aspects

This operation will support projects that reduce energy consumption, increase the use of renewable energies and help to mitigate climate change. It thus generates significant environmental benefits. However, some individual schemes may have limited environmental impact. The intermediary bank will check the promoters’ compliance with national and European environmental and biodiversity regulations, as well as compliance with the Bank's Public Disclosure Policy on facilitating access by the public to environmentally relevant information.

Procurement

Project promoters are mainly public authorities and thus subject to the EU and UK procurement regulations. The intermediary bank will check that the procurement is carried out in line with the requirements for public sector projects as defined by the Procurement Directive 2004/18/EC, which may include publication in the Official Journal of the EU.

Status

Approved - 08/11/2011.

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. Therefore data provided on this page is indicative and cannot be considered to represent official EIB Policy (see also the Explanatory notes).

E-mail

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Alternatively, EIB can also be contacted through its external offices.

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Complaints mechanism

Any complaint regarding alleged maladministration can be lodged to EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero-tolerance against fraud and corruption

The EIB has a zero-tolerance policy on fraud or corruption. To report allegations of fraud or corruption in EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential, and are handled in line with EIB investigation procedures and the Anti-Fraud Policy.

EIB Transparency Policy

The EIB is committed to achieving the highest possible level of transparency. The EIB Transparency Policy sets out how EIB discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.

Guide to procurement

This Guide applies specifically to those components of a project identified for the Bank's financing.