UK Green Investment Bank and Equitix invest in UK-wide commercial LED installation programme

• UK Green Investment Bank and Equitix announce a commitment of £5m to UK building retrofit programme
• New low-energy lighting will cut running costs, energy bills and carbon emissions
• GKN Aerospace’s Isle of Wight facility first in line for development.

UK Green Investment Bank plc (GIB) and Equitix have today announced a commitment to fund a building retrofit programme throughout the UK.

The Equitix-managed fund Energy Saving Investments (ESI), in which GIB is a cornerstone investor, is investing £2.5m in the project. This will mobilise an additional £2.5m of additional private sector capital from the Equitix Energy Efficiency Fund (EEEF).

The developer, Climate Energy has a robust pipeline of opportunities and is developing the first energy efficient LED lighting project at global aviation supplier GKN Aerospace’s Falcon Yard facility on the Isle of Wight. It will then look to deliver a number of other schemes across other sectors in other UK locations.

The GKN scheme will offer minimal disruption during installation and deliver longer life improved lighting whilst helping GKN reduce carbon emissions and energy costs.

The lighting will be installed by SSE Contracting, owned by Equitix ESI (Lighting) Ltd and managed by Climate Energy. It will be leased by GKN, relieving it of the financial and maintenance costs associated with the installation, operation and upkeep of the systems.

The new lighting will be specially selected to optimise the light levels required for the work carried out on each particular site.

The installation of new efficient and resilient lighting systems will help companies cut maintenance and running costs and contribute to reductions in energy consumption and carbon emissions, delivering cash savings and assisting the transition to a low carbon economy in the UK."

Bill Rogers
Managing Director, UK Green Investment Bank

"It is good to see companies taking a serious interest in their energy consumption and implementing responsive action to make a change. This simple yet efficient technology is well proven and is set to make a real difference to those who choose to install it."

Geoff Jackson
Chief Executive Officer, Equitix

"We are delighted that the GIB and Equitix have agreed to fund our client GKN Aerospace LED lighting project. This enables excellent energy and carbon savings at their East Cowes manufacturing facility whilst preserving capital that supports their core business activities."

Nick Painter
Business Development Director, Climate Energy Ltd

"As a global technology leader in our sector, GKN Aerospace constantly explores ways to use advancing technologies to improve our manufacturing facilities and lower our environmental footprint. This new LED lighting programme does just that, providing improved quality lighting for our workforce whilst reducing energy consumption and maintenance and offering valuable carbon savings – and we are proud to be one of the scheme’s launch customers."

John Gould
Facilities Manager, GKN Aerospace

About the project

Total GIB share of investment: £2.5m
Total capital mobilised: £5m
Co-investors: Equitix Energy Efficiency Fund (EEEF)
Expected completion: December 2015
Installer: SSE Contracting
Developer: Climate Energy