Dec. 18 (Bloomberg) -- Sustainable Development Capital LLP, an energy-efficiency investor, is about to finish a deal to install energy-saving equipment in a London hospital.
SDCL is working with a “prominent” National Health Service trust to install a gas-fueled combined heat and power plant at a hospital in Britain’s capital city, Jonathan Maxwell, chief executive officer at the London-based investor, said in an interview. It should close in the coming weeks.
“The benefit of combined heat and power plants in hospitals is that there is a very stable year-round demand for heat and power,” Maxwell said. “We’re taking electricity demand off the electricity grid and using the gas grid, which is much lower cost, to produce heat and power to the building.”
The deal forms part of a program SDCL established with the NHS Confederation and General Electric Co. that should involve about 25 million pounds ($41 million) being invested in five to 10 similar projects, the executive said.
The governments is urging organizations to install energy- saving measures that include efficient lighting and insulation to lower bills as power prices rise.
“The energy we can save is the cheapest and probably largest source of reduction in greenhouse gas emissions, and it doesn’t need subsidies to make it work,” said Maxwell.
“We should be doing everything we can reasonably do, especially if it pays for itself and doesn’t require subsidies,” he said. “Surely we should be expending as much energy on saving it as generating it.”
SDCL also has been appointed as preferred bidder to manage a 70 million-euro Irish energy efficiency fund. It plans to start implementing energy-saving measures at the Four Seasons Hotel in Dublin later this month, that may shave as much as 30 percent off the hotel’s bills.
--Editors: Reed Landberg, Randall Hackley