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Investment Criteria
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LEEF Presentation Slides

Many thanks to everyone who attended the LEEF Presentation at this year’s Base London, July 11th. The presentation slides are available to download here.

 
Investment Products
The fund provides repayable investment finance, predominantly in the form of senior and mezzanine loans. For opportunities regarding equity, please contact the team

Eligible borrowers and projects
The fund can lend to public, private sector or joint venture entities, including ESCOs (Energy Service Companies) and social housing associations.

Eligible technologies
LEEF will finance a broad range of Energy Conservation Measures (ECMs) that provide energy saving benefits. This includes, for example, boiler replacement, campus-based Combined Heat and Power (CHP), insulation and ground source heat pumps. Please click here for a list of example ECMs

Investment Size
The fund will target investments of between £3-10m (minimum £1m; maximum £20m per borrower); and encourages project sponsors to consider how best to achieve economies of scale, for example by grouping buildings or eligible parts of broader refurbishment projects together. Smaller projects will be considered on a case-by-case basis. Draw-down of funds can be upfront or on a phased basis

Performance Targets

LEEF is a sustainable investor, targeting a socio-economic return as well as a financial return on investment. Projects supported by LEEF should aim to deliver Energy Savings (kWh) from the Energy Conservation Measures funded of at least 20% compared to conditions prior to investment.

There may be additional targets specific to each project and these will be discussed at the 'Project Outline' stage of the application process.

Comparable Advantages

LEEF provides many advantages over other potential sources of finance. These are summarised below:

  • There is no set payback period required
  • Maximum loan terms are 10 years, although short-term development finance and longer investment periods may be considered on a case by case basis
  • The pricing of the fund's loans will be linked to risk and the credit rating of the borrowing entity. The aim is to be able to structure the transaction so that a highly competitive rate can be offered
  • Projects will be reviewed on an ongoing, rolling basis, with no set deadline for applications or 'funding rounds'; but funds are limited
  • LEEF will lend up to £20m per project and has £100m to invest just in London
  • The fund may be able to offer flexible terms; for example the potential to roll-up interest during construction, to allow early repayment and to sculpt interest payments to energy savings: the latter of which may allow the borrower to match payments to revenue savings
 
   

LEEF MAILING LIST
Click here to join the LEEF mailing list
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EXECUTIVE SUMMARY
Click here to download Executive Summary PDF (opens in a new window)

 

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