London Borough of Enfield

London Borough of Enfield London Borough of Enfield logo

A to Z of services

Investing in Enfield

Published Friday, 15 May 2015

An £80 million investment deal to drive forward new infrastructure in Enfield has been struck between the council and the European Investment Bank (EIB).

finance, meridian water, schools

The cash from the European Investment Bank, which was announced at the Gherkin in Central London on Thursday(14 May), will help Enfield Council deliver a number of major projects, including the £1.5 billion Meridian Water housing scheme, several smaller housing sites, the Lee Valley Heat Network and Enfield’s schools expansion programme.

Meridian Water is a proposed location for one of the Mayor’s innovative ‘Housing Zones.’ The Mayor has already named 11 Housing Zones across London that have the capacity to bring forward enormous regeneration and it is expected that a further nine brownfield sites will be selected by the end of the year, providing a total of over 50,000 new homes.

The Leader of Enfield Council, Cllr Doug Taylor, said: ‘This investment will help us to deliver massive improvements in Enfield and drive the regeneration of North London as a whole, helping create thousands of homes and jobs in the borough.

“Enfield Council now has the opportunity to draw down on £80 million to improve Enfield’s economy, local environment and communities. It demonstrates strong investor confidence in Enfield’s regeneration plans.”

Jonathan Taylor, European Investment Bank Vice-President said: “As Europe’s largest city, London’s success requires considerable investment to cater for a growing population.

“The European Investment Bank is pleased to support new investment to construct and upgrade family homes, cut energy bills, and improve schools across Enfield and develop brownfield sites across the borough.

“The new investment outlined today is part of an EIB backed GBP 1 billion urban renewal programme that will improve the quality of life and health of Londoners, as well as creating jobs where they are most needed.”

Matthew Pencharz, the Mayor of London’s Senior Advisor for Energy and Environment, said: “Enfield is seeing huge growth with exciting schemes such as the proposed Meridian Water Housing Zone set to provide thousands of new homes. This latest investment from the European Investment Bank will play a crucial role, not only in ensuring these new homes are environmentally friendly but also by providing cheaper heating and hot water.”

The Lee Valley Heat Network will supply heat and hot water to up to 8,000 new homes at Meridian Water. The network will also supply heat to 2,000 new homes at Ladderswood, Alma Estate and New Avenue.

Jayne Clare, Project Delivery Director for the Lee Valley Heat Network said: “The Ladderswood Satellite Scheme is the start of the Lee Valley Heat Network, with construction work already well underway. The first 40 homes are on track to receive heat from the network this autumn.”

Pictured Enfield Council Leader, Cllr Doug Taylor and Vice-President of the European Investment Bank Jonathan Taylor.

More articles in the news archive.