Energy Efficiency
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
25 March 2013
The funds provided for the energy centre are part of a commitment of £50m to the Aviva Investors REaLM Energy Centres Fund (Fund), a fund specialising in investment in non-domestic UK energy centres.
This fund forms part of GIB's allocation of funding into one of its priority sectors, non- domestic energy efficiency.
The investment in the Trust will finance one of the largest projects of this type in the UK and is designed to deliver substantial financial and carbon emissions savings for the Trust. The total investment required for the project is approximately £36m and is being made in partnership with the Aviva Investors REaLM Infrastructure Fund, which is providing the balance of the investment.
The new energy innovation centre will house a combined heat and power unit, biomass boiler, efficient dual fuel boilers and heat recovery from medical incineration. It will provide heat and power to the Trust including the Addenbrooke's and Rosie Hospitals. As an alternative to sourcing power from the National Grid, the Trust will benefit from the energy centre's materially lower energy costs and carbon emissions, with savings of over £20 million in energy costs over the 25 year operational term of the project and expected CO2 savings of approximately 8,000 tonnes per annum. The project is subject to final planning approval.
MITIE, the FTSE 250 strategic outsourcing company, has today been awarded the contract to develop the energy centre and then operate it throughout the 25 year term.
Lord Smith of Kelvin
Chairman, UK Green Investment Bank
Vince Cable
Business Secretary
Ian Berry
Fund Manager, Infrastructure & Renewable Energy at Aviva Investors
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