Green Investment Bank leverages £5m for LED lighting

The UK Green Investment Bank plc (GIB) and infrastructure investor Equitix are committing £5m to a UK-wide programme to install LED lighting in factories and other commercial buildings.

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 private sector capital from the Equitix Energy Efficiency Fund (EEEF).

Developer Climate Energy will undertake the first LED lighting project at aviation supplier GKN Aerospace’s Falcon Yard facility on the Isle of Wight, with more projects set to follow. The lighting will be installed by SSE Contracting, owned by Equitix ESI (Lighting) 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. New lighting will be selected to optimise the light levels required for the work carried out.

Geoff Jackson, chief executive officer of Equitix, said: “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.”

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