Thursday 28 August 2014 6:00 pm

Amber Green completes £50m investment in Boris Johnson's London energy fund

Amber Green has announced the completion the investment of an initial £50m funding round in Boris Johnson's flagship London Energy Efficiency Fund (LEEF).

Thanks to the first investment round coming 18 months ahead of schedule, LEEF has landed a further £11.5m from the Mayor's London Green Fund. The new tranche of cash will be doled out to other energy efficiency projects in the capital.

Since 2011, the LEEF has invested in a wide-array of projects chiefly concerned with the installation of technologies to cut carbon emissions and raising energy performance.

According to technical appraisals, the projects will create over 1,400 jobs and cut 16,000 tonnes of carbon. Among the various projects is a £20m investment to the Tate Foundation for the installation of low-carbon heat and cooling systems across the Foundation's London estate.

Commenting on LEEF's work, Boris Johnson said: "We need to do everything possible to make the most of our resources, reduce carbon emissions and create a more secure, cost-effective and sustainable heat and power supply across London. Retrofitting older homes and buildings has a pivotal part to play in this, while also helping save us all money on fuel bills."