Projects

London Borough of Richmond

Energy

Energy Efficiency

MEEF finances low carbon streetlighting, assisting the Borough to meet its Climate Emergency Declaration whilst lowering the Borough’s energy costs.

Sector

Energy

Energy Efficiency

Location

London, England

Status

Under construction

Funding type

Debt - £15.8m

Financial close

December 2019

Term length

19 year loan

average design life

0 years

About

In December 2019, MEEF financed the upgrade of c.11,000 LED streetlights for the London Borough of Richmond upon Thames (the Council).

The LED street lights will have a colour rendition that provides the optimum ability to reduce the lighting levels at night time and they are designed to produce the same lighting levels as the existing bulbs. There are no changes to the hours of light operation, with lights programmed to switch on at sunset and off at sunrise.

The new lights also have an average design life of 25 years, compared to approx.. 6 years for traditional bulbs and will have a 4,000k colour retention which could turn down lighting levels during the night.

The MEEF facility included commitments from the GLA, NatWest and Amber.

Key impacts and benefits

Annual CO2 reduction

0,0 tonnes

Number of streetlights retrofitted with LEDs

c. 0,000

Energy saving

0 %

less energy than a conventional sodium street light

Sustainable Development Goals (SDGs)

2030 Agenda for Sustainable Development adopted by UN Member States in 2015

SDGs supported:

SDG contribution

Outcomes

MEEF provided competitive and flexible, long-term finance to the Council, enabling it to accelerate the rollout of the streetlighting across the borough, one of the initiatives being undertaken to make the Borough cleaner and greener, supporting the Council’s Climate Emergency declaration
MEEF retrofitted c.11,000 streetlights with LEDs
The new LED street lights will be monitored by the Council’s computer management software and will have much lower running costs, using up to 60% per cent less energy than a conventional sodium street light
The roll out is estimated to save annually 1,185 tonnes of carbon, the equivalent to taking over 1000 cars off the road
The Project is estimated to save the council £440k per year in energy costs

London Borough of Richmond

About

Sustainable Development Goals (SDGs)

Outcomes

Barrow OFTO

East Anglia One OFTO (‘EA1’)

Beatrice OFTO