THFC to invest £12million of JESSICA funding in energy-efficient retro-fit projects in London
JESSICA is a European initiative designed to promote sustainable investment, growth and jobs in urban areas. This can be done by using EU structural Funds to make repayable investments in urban renewal and development projects.
In London, the JESSICA London Green Fund has been established to make investments consistent with the London Plan and £12million has been allocated to finance investments in energy efficient retrofit of existing social housing in London.
THFC was selected, via a tender process, to manage these funds and will make investments by way of loans to Registered Providers. Three Registered Providers have now been allocated loans of £4million each from the fund to finance a variety of retrofit projects.
The first investment has been made and loan proceeds drawn down by Gallions HA. Their projects are summarised below:
Further investments will be made by loans to A2Dominion Housing Group and Origin Housing Group to be drawn prior to the end of 2013.
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