£80m European funding for Enfield homes and heat network

The London borough of Enfield has struck an £80m deal with the European Investment Bank (EIB) to bring sustainable homes, heating and schools to the borough.

The funding will support the delivery of such projects as the £1.5bn Meridian Water housing scheme, several smaller housing sites, the Lee Valley Heat Network and a schools expansion programme. Meridian Water is a proposed location for one of the Mayor of London’s housing zones. The Lee Valley Heat Network will supply heat and hot water to up to 8,000 new homes at Meridian Water. The network will also supply heat to 2,000 new homes at three other locations, and the first 40 homes are on track to receive heat from the network this autumn.

Jonathan Taylor, European Investment Bank vice-president said: “The new investment outlined today is part of an EIB backed £1bn urban renewal programme that will improve the quality of life and health of Londoners, as well as creating jobs where they are most needed.”

Matthew Pencharz, the Mayor of London’s senior advisor for energy and environment, said: “Enfield is seeing huge growth with exciting schemes such as the proposed Meridian Water Housing Zone set to provide thousands of new homes. This latest investment from the European Investment Bank will play a crucial role, not only in ensuring these new homes are environmentally friendly but also by providing cheaper heating and hot water.”

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