FINANCE: One of the largest acute trusts in the country is to receive a £7.5m investment in order to increase its energy efficiency.

Nottingham University Hospitals NHS Trust is to receive the funding as part of an initiative led by the UK Green Investment Bank, a body created by the government in 2012.

The trust will use the money to install of a variety of energy production and reduction measures at its Queen’s Medical Centre site, including a steam boiler, low energy lighting and a combined heat and power system.

It has been estimated that the investment will allow the trust to make £42m in cost savings over the 15-year life of the project and save around 7,400 tonnes of carbon dioxide each year.

The sum, which will be given to the trust up front, comes from a £50m investment fund created to help NHS bodies become more energy efficient.

The Green Investment Bank and the Dutch financial services company De Lage Landen, have each contributed £25m to the fund.

Nottingham University Hospitals will be expected to pay back the investment over 15 years.

Andrew Camina, hard facilities management compliance manager at the trust, said:“We are committed to doing all we can to save energy and reduce our carbon emissions at our hospitals which make up one of the biggest acute teaching trusts in the country.

“We are pleased to be working with partners to do all we can to reduce energy costs and emissions and seek to find ever more innovative ways of reducing energy use.”

Shaun Kingsbury, chief executive of the Green Investment Bank said: “As one of the country’s most energy intensive organisations, the NHS could save up to £150m each year by putting in place energy efficiency measures.

That’s why [we have] committed to back a wave of projects to modernise and better equip NHS facilities and systems.”