By Marcus Leach

Hundreds of public buildings in London including schools, libraries and hospitals are set to get a green makeover, with low cost loans from a new £100 million fund, the Mayor announced on Friday.

London's public buildings are responsible for 10 per cent of the capital's carbon emissions. Retrofitting these buildings with energy reduction measures will not only cut fuel bills and emissions, it is also a valuable investment opportunity estimated to be worth billions to the London economy, which will create jobs and help develop skills.

Flexible finance available from the fund will pay for measures including efficient lighting systems, ventilation and boiler upgrades, smart meters and solar panels.

Returns on initial investments are made through resulting energy savings. The Mayor also revealed that a team of experts will be available to help speed public buildings through retrofitting programmes.

This is part of the Mayor's overall plan to retrofit London's buildings which are responsible for 80 per cent of carbon emissions. Retrofitting is a win-win for Londoners as it delivers value for money through the more efficient use of energy resulting in reduced energy costs and it significantly contributes to the Mayor's ambitious carbon reduction targets.

"Retrofitting London is a priority as not only will it cut carbon and energy costs, but also inject billions of pounds into the city's economy, and create tens of thousands of jobs," The Mayor of London, Boris Johnson, said.

"This multi-million pound fund will assist in improving the efficiency of the capital's public buildings. It is a great example of the type of innovative thinking that will stimulate green economic growth for the capital while also saving taxpayers’ money on energy bills."

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