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Greenwich Peninsula ESCO Limited - LEEF
Greenwich Peninsula ESCO Limited - LEEF
LEEF funded the largest new build energy centre and residential heat network in Europe at the time
About
Led by developer Knight Dragon, Greenwich Peninsula is one of the largest projects of its kind in Europe with a mix of commercial, retail, entertainment, community and residential units. The delivery programme for the scheme extends to 2035. LEEF finance significantly leveraged both private and public sector financial support for the scheme.
The district heating network is operated by Greenwich Peninsula ESCO Limited (GPEL), with Kier as primary energy centre contractor. The energy centre uses pioneering technology relating to network temperatures and houses advanced boilers and combined heat and power to provide heat energy to all plots on the 150 acres across the Peninsula.
The GPEL heat network is underpinned by an independent governing body that looks after residents’ interests and ensures value for money in the costs of heat. It also included a new Visitor Centre that will show the surrounding neighbourhoods how district heating operates and its benefits to the wider community. The flue for the Energy Centre known as the Optic Cloak is 49 metres tall, 20 metres wide and 3 metres deep and marks the gateway to the Peninsula.
Key impacts and benefits
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Sustainable Development Goals (SDGs)
2030 Agenda for Sustainable Development adopted by UN Member States in 2015
SDGs supported:
Outcomes
- LEEF’s first private sector investment
- Strongly aligns with LEEF’s Investment Policy
- Greenwich becomes the 9th London Borough where LEEF has supported projects
- 15,000 residential units and 3,500,000 sqft of commercial space served by gas-fired combined heat and power plant heat network
- Substantial (20,000 tonnes p.a.) carbon savings over the life of the project; equivalent to 18,000 cars taken off the road
Related
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Barrow OFTO
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East Anglia One OFTO (‘EA1’)
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