The Mayor of London’s Energy Efficiency Fund (MEEF) is a new £500m investment fund established by the GLA with funding from the European Commission, which will help achieve London’s ambition of being a net zero carbon city by 2030.
MEEF seeks to address market failures in London’s low carbon sector by providing flexible and competitive finance to enable, accelerate or enhance viable low carbon projects across London.
MEEF builds on the success of the GLA’s London Green Fund including Amber’s existing fund, the London Energy Efficiency Fund (LEEF).
Since its launch in July 2018, MEEF has mobilised over £315 million of capital and reduced London’s CO2 emissions by more than 16,000 tonnes, which is equivalent to taking 14,500 cars off the road.
MEEF has made investments to SMEs, the NHS and local authorities across London. These include some highly innovative projects including electric vehicle charging infrastructure combined with energy storage, a retrofit of a district heat network with water source heat pumps, one of London’s largest district heating networks, as well as an energy performance contract with guaranteed savings for the NHS and a flexible payment mechanism to support a London black cab fleet operator.
Our Sustainable Energy case studies on MEEF and our previous Fund LEEF can be found here.
MEEF has been used as a case study to demonstrate London delivering on its low-carbon targets. More information can be found in the following articles:
Amber Fund Management Limited is authorised and regulated by the Financial Conduct Authority to act as the Manager of MEEF and to promote the Fund in the United Kingdom.