Amber Green LEEF
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The London Energy Efficiency Fund (LEEF) is a fund providing repayable investments aimed at refurbishing and improving public sector buildings to reduce energy and carbon dioxide emissions.

The LEEF application process is split into three stages, with a fourth stage being the monitoring of the project post installation (see diagram below):


Stage 1
Project Outline

Initial discussion

Eligibility assessment

Confidentiality agreement


Stage 2

Application form

M&V plan

Investment terms


Stage 3
Decision to Invest

Due diligence

Investment committee approval

Financial drawdown


Stage 4
Post Investment


Reporting on Energy savings


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Stage 1: Project Outline

The Project Outline phase involves initial discussions with the LEEF team to get a broad understanding of the project, its status, and the nature and amount of funding required.

Information sought at this stage is set out in the Project Outline document. Please complete and send to,but it is suggested that you contact before doing so to discuss the project.

If an indicative term sheet is required in order to progress internal approvals, LEEF can provide this on receipt of a Project Outline form and signed confidentiality agreement.

Note: the LEEF team can on occasion seek exceptions to some of the investment criteria so potential projects sponsors are encouraged always to contact the team, even if the applicant believes they may not be eligible:

Stage 2: Application

If after a review of the Project Outline, both LEEF and the project sponsor are keen to proceed:

  • a confidentiality agreement should be signed;
  • an application form should be completed, together with the application spreadsheet

The LEEF team will assist the potential applicant with this process and can issue an indicative term sheet or more detailed terms after review of the information provided.

Feedback will be provided on the application within four weeks of receipt. Further information may be required to support the application, in which case LEEF will work closely with the project sponsor so that such requests are understood and can be managed efficiently

Stage 3: Decision to Invest

In order for the fund and its investors to make a final decision;

  • The project application form and supporting information will be submitted to the fund’s due diligence teams (both technical and financial), to provide assurance on the investment and its ability to deliver savings and repay the fund’s investment. This may involve some further discussions, and a visit to the project site;
  • A draft loan agreement will be provided, setting out the terms of the investment, including pricing, drawdown and repayment profiles, and reporting arrangements;
  • Once due diligence has been completed, and the loan documentation agreed, the LEEF team can recommend an application for approval from the investment committee. The first drawdown of funds can then take place once the loan documentation is signed. This stage can take 2-4 weeks depending on the results of due diligence
Stage 4: Post Investment

Standard reporting on the progress of the project is expected both during the construction and operational periods, as with any normal bank loan.

For LEEF, part of this reporting is on the implementation and results of the agreed ‘Measurement and Verification Plan’, where evidence of the energy and CO2 savings made should be provided. The LEEF team and the LEEF auditor may need to visit the installations and review energy savings, but this will be agreed at a convenient time with the project sponsor


Completion and Submission of Applications

Completion of the application form and provision of supporting information is expected to be an iterative process. Please do contact the team with any queries, or if you would like us to review drafts of your application or discuss any of the requirements.

Please email the completed application form and spreadsheet, together with any supporting documentation (eg. business case / approvals documents / feasibility studies) to


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