Financial and insurance services

Tender description

The Greater London Authority has awarded a contract to a Fund Manager who will manage and invest by way of loans and equity investment, the capital which is to be committed to a new fund, which the Fund Manager will establish and which will be called the Mayor of London's Energy Efficiency Fund MEEF. The Fund will be established to invest in technologies relevant to energy efficiency such as: — Building retrofit and energy efficiency measures in public, commercial and residential properties, — Production and distribution of low carbon energy, including combined heat and power, tri-generation and communal / district heating generation and/or networks; and, — Small scale renewable energy generation. The Greater London Authority has awarded a contract to a Fund Manager who will manage and invest by way of loans and equity investment, the capital which is to be committed to a new fund, which the Fund Manager will establish and which will be called the Mayor of London's Energy Efficiency Fund MEEF. The Fund will be established to invest in technologies relevant to energy efficiency such as: — Building retrofit and energy efficiency measures in public, commercial and residential properties, — Production and distribution of low carbon energy, including combined heat and power, tri-generation and communal / district heating generation and/or networks; and, — Small scale renewable energy generation. The Fund Manager is required to make the investments and then administer the Fund, including monitoring and managing drawdowns. The duration of the contract with the Fund Manager will be 20 years. There are options to extend to give a maximum possible term of 22 years. The contract specifies an investment period which will terminate approximately 5 years from the point the contract is awarded to the Fund Manager and a post investment period which will commence from the end of the investment period and will end on the termination date of the contract.