The Mayor of London’s Energy Efficiency Fund (MEEF), launched in July 2018, is a £500 million investment fund that finances the low carbon, sustainable projects and infrastructure London needs to tackle the climate emergency and become net-zero by 2030.

Established by the Mayor with funding from the European Regional Development Fund and managed by Amber Infrastructure, MEEF has so far helped reduce London’s CO2 emissions by more than 16,000 tonnes per year[1] – the equivalent to taking 14,500 cars off the road – by supporting projects that deliver new low carbon technology or upgrade existing infrastructure. Project examples include: electric vehicle charging infrastructure combined with energy storage, the installation of water source heat pumps to over 2,000 homes in the London Borough of Southwark, and the construction of a Meridian Water Heat Network in the London Borough of Enfield supplying over 10,000 new homes with low carbon energy.

Joanne Patrick, Head of Sustainable Energy at Amber Infrastructure, commented: “We are delighted to work together with Rock Road to support this innovative approach to financing zero-emission buses in London. We hope that this project will act as a catalyst to support Rock and London bus operators to decarbonise their fleets and improve air quality throughout the Capital.”

Jacob Lloyd, Head of Specialist Asset Finance, NatWest, said: “We’re delighted to have been able to help MEEF and Rock Road with the funding of 30 new electric buses, with transport emissions reduction a key factor for successfully tackling climate change. Supporting this transaction also demonstrates our commitment to help companies and organisations transitioning to net-zero by lending £100 billion in climate and sustainable funding and financing by the end of 2025.”