The Green New Deal Fund (GNDF) is a new low carbon investment fund established by the North Tyne Combined Authority (NTCA) and managed by Amber Infrastructure Group.
This ground-breaking low carbon investment fund opened to applications on 30 November 2021, it will invest £18 million in low carbon infrastructure in the North of Tyne over the next four years, and can invest directly into SMEs to support business growth and innovation. The GNDF comprises a £9 million investment from the NTCA, with Amber – in its role as fund manager – tasked with sourcing an additional £9 million investment, bringing the total investment by the Fund to £18 million.
Loans, equity and grants are available to fund small and medium sized innovative projects that deliver significant carbon savings and help create new jobs, and develop skills in the region’s green and low carbon industries. The GNDF aims to support a wide range of low carbon projects across the region, including community energy schemes, Electric Vehicle charging solutions, building retrofits, small scale renewables, natural capital, and low carbon heating systems.
For every £4,525 invested, each project must save one tonne of carbon dioxide per annum, and energy efficiency projects must create a 10% reduction in energy costs. Projects awarded funding will also be encouraged to support local supply chains, helping to create new jobs in the sector.
The GNDF launch took place at The Catalyst in Newcastle on 30 November. In this photo from left to right – Professor Sara Walker from Newcastle University; Cllr Nick Forbes, Portfolio Holder for Jobs, Innovation and Growth; Matthew Lumsden, Chief Executive Officer of Connected Energy; North of Tyne Mayor Jamie Driscoll; Jenny Hudson, Business Development Manager at Transmission Dynamics; Mark Andrew from Amber Infrastructure; Joanne Patrick from Amber Infrastructure. Scroll down this page for the video of the GNDF launch.
The Fund will deliver the following objectives
GNDF operates a streamlined and straightforward application process, using a standardised short- form template which the GNDF team can help you complete.
Potential projects should contact the GNDF team for an informal discussion on progressing an application. An overview of the process is set out below:
Business interested in applying to the Green New Deal Fund should visit www.greennewdealfund.co.uk.