Green Investment Bank invests £17½m to help UK bank go ‘green-er’

green union jackThe Edinburgh-based Green Investment Bank has invested £17½ million to help a major UK retail bank go ‘green’.

 In the UK’s largest fully-funded LED-lighting retro-fit programme, more than 90,000 LED ‘green’ light bulbs will be fitted in 800 Santander bank branches around Britain.

 

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.

Under the deal, SDCL will provide lighting services, designed and delivered by GE Lighting, for 10 years in all branches.

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