Real estate

British homes to get smart meters under £315 billion investment plan

British Homes, Seven Million Smart Meters to be Installed Following £315 Million Investment Plan - SantanderCB

A new £315bn investment plan is to see more than seven million smart energy meters installed across Great Britain. The initiative is backed by the European Investment Bank alongside six commercial banks (Barclays, Credit Agricole CIB, HSBC, Santander, Sumitomo Mitsui Banking Corporation and The Bank of Tokyo-Mitsubishi UFJ Ltd) and Infracapital. The EIB will be putting forward £360m. The roll-out is one of the largest smart meter schemes in Europe to date, and will be managed by Calvin Capital, a leading funder, owner and manager of gas and electricity meters. It is the first time Calvin has worked with the EIB, and it is also the largest project so far to be backed by the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe and the second in the UK.


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