Zero Carbon Accelerator

GLA Green Finance Fund (GFF)

Green Funding & Finance Finder

GLA Green Finance Fund (GFF)

The Green Finance Fund (GFF) was launched in 2023 and will lend up to £500 million to local authorities and other eligible organisations in London for projects that deliver benefits in energy efficiency, clean transportation and/or renewable energy. For organisations with access to the Public Works Loan Board (PWLB), the GFF offers loans with flexible terms at interest rates of at least 20 basis points below PWLB prevailing certainty rate. The GFF opens periodically.

Status: Open

Category: Loans & bonds

Type of financing: Debt financing

Eligible applicants:

  • Cultural and heritage institution
  • Education provider
  • GLA group
  • Health provider
  • Local authority
  • Social housing provider

Minimum amount: £1,000,000

Maximum amount: £75,000,000

Return requirement: Yes

Maximum loan term: 25 years

Rate: At least 20 basis points below PWLB prevailing certainty rate

The Fund offers loans with flexible terms at interest rates agreed on a project-by-project basis, at or below Public Works Loan Board (PWLB) prevailing rates. For organisations with access to PWLB, the GFF offers loans with flexible terms at interest rates of at least 20 basis points below the PWLB prevailing certainty rates.

Loans must be used for capital expenditure. Projects operational within three years will be prioritised. Projects must meet a set of gateway criteria related to carbon savings and climate impacts, that are described in the detailed guidance document.

Eligible projects:

  • Domestic fabrics and energy efficiency
  • Domestic heat decarbonisation
  • Heat network
  • Non-domestic fabrics and energy efficiency
  • Non-domestic heat decarbonisation
  • Other
  • Renewables (PV)
Find out more

Please note: the Green Funding and Finance Finder may not be absolutely comprehensive. We strongly advise you to confirm all details directly with the relevant fund managers.

Green Funding & Finance Finder

Find more green funding and finance opportunities for your net zero project in the Green Funding & Finance Finder.

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