Energy efficiency
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
08 December 2015
UK Green Investment Bank plc (GIB) and Sustainable Development Capital Limited (SDCL) have today committed £17.5m to the UK’s largest ever fully-funded LED lighting retrofit programme.
The project will see more than 90,000 LED lamps installed in Santander’s 800 British branches. The installation, which is scheduled for completion by the end of this year, will also extend to the bank’s 14 UK office buildings.
The SDCL-managed UK Energy Efficiency Investments Fund, in which GIB is a cornerstone investor, is investing £8.4m in the project. A further £9.1m of private sector investment has been mobilised from a parallel fund, UK Energy Efficiency Investments 1A.
The project will cut greenhouse gas emissions by approximately 7,000 tonnes annually, the equivalent of removing 3,000 cars from the road, and generate energy savings of more than 50% across the Santander estate.
Santander, the UK’s fifth-biggest bank, says the improvements to the quality of its lighting will also enhance the customer experience.
Under the deal, SDCL will provide lighting services, designed and delivered by GE Lighting, for ten years in all branches.
Amber Rudd
Secretary of State for Energy and Climate Change
Chris Richold
Director, Santander
Ed Northam
Head of Investment Banking, UK Green Investment Bank
Jonathan Maxwell
Chief Executive, SDCL
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About SDCL
SDCL is a specialist financial and investment advisory firm, headquartered in London and with offices in New York, Dublin, Hong Kong and Singapore. It was established to help governments, financial institutions and companies finance and invest in environmental and social infrastructure assets and services. SDCL’s advisory business is focused on facilitating the supply of clean infrastructure. Its investment business is focused on reducing demand for resources through energy efficiency.