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Three NHS trusts to save half of energy expenditure with ‘landmark’, industry-first funding grant

Three NHS trusts in Liverpool are to benefit from the first Investor Ready Energy Efficiency-certified funds, and save nearly £2 million each year.

Aintree University Hospital NHS Foundation, Liverpool Women’s NHS Foundation Trust and The Walton Centre NHS Foundation Trust will receive £13 million in funding under the Environmental Defense Fund’s Investor Confidence Project.

That funding, developed by the Carbon and Energy Fund and financed by Macquarie Group, will pay for various energy and carbon saving initiatives which are intended to cut the three trusts’ energy consumption by 50%.

That will equate to annual savings of around £1.85 million and a payback period of just over seven years.

Carbon and Energy Fund’s David Mackey said that the “landmark” energy efficiency financial deal could “unlock the European retrofit market”.

 "We have £100 million worth of projects in the pipeline that will be certified – a clear signal to the market we are open for business,” he added.

The deal comes less than a month after the publication of the NHS’ ‘Securing Healthy Returns’ report which outlined how the public body could save as much as £414 million a year by 2020 by embarking on various resource and energy efficiency programmes, many of which were designed to decarbonise its energy demand.

“Working with the Investor Confidence Project, the Carbon and Energy Fund and Macquarie Bank, these three trusts have come together to deliver innovative energy efficiency solutions that will reduce the operational revenue  costs of each trust, alongside delivering environmental benefits in a cost effective way,” Peter Sellars, NHS Estates Head of Profession, said.