The North East Combined Authority’s (‘North East CA’) Green New Deal Fund (‘GNDF’), established in late 2021 and managed by Amber Fund Management Limited (‘Amber’), has provided a competitive funding package to Newcastle City Council (‘NCC’) to support the refurbishment and decarbonisation of Elswick Community Pool and Leisure Centre (‘Elswick Pool’). Elswick Pool is a charity managed by a local community leisure operator on a long term lease with NCC.
The measures to be installed include a new low-carbon heating system with Air Source Heat Pumps, a new roof cover, solar panels, new windows and new air handling units. The changes will radically modernise the site, reduce emissions, increase efficiency and secure its sustainability for the next generation.
The project is expected to deliver carbon savings of 266 tonnes per year and reduce energy consumption by 16.3%. The measures will assist Elswick Pool to continue to offer a variety of leisure activities from a sustainable leisure centre, encouraging greater participation and access, including several local sports clubs and schools.
The funding package includes both a long term cost effective loan and capital grant, to support the installation of innovative low carbon measures that will replace existing carbon intensive infrastructure. In total the GNDF is providing c.£0.5m of funding whilst the project has mobilised a further £2.3m of investment from Sport England and the Public Sector Decarbonisation Scheme.
The project is being delivered by Equans Regeneration Limited, who will use local suppliers, helping to further support local green jobs. NCC’s cost consultant Thornton-Firkin has evaluated the project costs to ensure they deliver ‘value for money’. The pool’s construction programme commenced in January 2025 and is due to conclude in July 2025.
This project strongly aligns with the Mayor’s Economic Plan to deliver a green jobs revolution and to enhance the region’s sport offerings and also aligns with NCC’s 2030 Net Zero Action Plan. The project also aligns with the Mayor’s vision to make the North East the first ‘Region of Sport’.
The GNDF was advised by Muckle LLP (legals) and by EP Group (technical).
Applications for the GNDF are open until 31 October 2025 and eligible applicants include SME’s, charitable and public sector organisations.
Please contact GNDF (gndfinfo@amberinfrastructure.com) to discuss a potential application further.
Further information on GNDF can be found at: www.greennewdealfund.co.uk
About GNDF
The North of Tyne Green New Deal Fund (‘GNDF’) provides a mixture of senior debt, mezzanine debt and equity to the North East public-sector and small-to-medium-sized businesses, including but not exclusively, Local Authorities, NHS Trusts, Registered Providers, Higher and Further Education organisations, Charities and Voluntary Organisations, ESCOs and SMEs. GNDF can fund both up to 50 per cent of the capital cost of a project and part-fund large-scale regeneration projects which demonstrate low-carbon credentials.
About Amber Infrastructure Group
Amber Infrastructure (‘Amber’) is a specialist international investment manager, focused on investment origination, asset management and fund management. With c.€5 billion in funds under management, Amber invests across eight funds and a number of managed accounts. Amber’s core business focuses on sourcing, developing, advising, investing in and managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally.
Amber is headquartered in London with offices in Europe, North America, Australia and New Zealand. Amber employs approximately 180 infrastructure professionals globally and manages over 175 investments. Amber is part of Boyd Watterson Global Asset Management Group LLC, a global diversified infrastructure, real estate and fixed income business with over $35.7 billion in assets under management and over 300 employees with offices in eight US cities and presence in twelve countries.
