Guy's and St Thomas' signs Strategic Energy Partnership with Meridiam to modernise critical infrastructure

Today, 9 July 2026, Guy’s and St Thomas’ NHS Foundation Trust announced the signing of a first-of-its-kind Strategic Energy Partnership with global infrastructure investor Meridiam, creating a new framework designed to modernise energy infrastructure, improve resilience and unlock long-term investment across the public sector.

The partnership will see Meridiam design, finance and deliver improvements to the Trust's energy infrastructure, helping to enhance reliability, improve efficiency and support the long-term modernisation of the estate. Dalkia Energy Services, one of the UK's leading technical and energy services providers, will support Meridiam with the delivery of the first project - a new heating and energy system at St Thomas' Hospital, replacing ageing infrastructure and strengthening the resilience of critical healthcare services.

The Strategic Energy Partnership has been developed using an Energy as a Service model, enabling major infrastructure investment without requiring upfront capital expenditure by the Trust.

Andrew Asbury, executive director of estates, facilities and capital development at Guy’s and St Thomas’, said: 

“Upgrading our energy infrastructure significantly enhances our resilience and ability to deliver critical healthcare services, reducing the likelihood of unplanned outages that impact patient care. Modern systems are also more energy and resource efficient, leading to long-term savings in utility spend and ongoing operational costs. By not allocating the Trust's capital to this project and leveraging private sector investment, our funds can be prioritised for capital expenditure in clinical services. There are environmental as well as economic benefits too. Improved local air quality and a reduced carbon footprint contribute to healthier communities in the areas we serve."

Thierry Déau, Founder and Chief Executive Officer of Meridiam said:

“We are proud to support Guy’s and St Thomas’ NHS Foundation Trust in delivering concrete and innovative healthcare infrastructure projects. Together, we aim to develop scalable solutions that contribute to the decarbonisation of hospitals, improve operational performance and deliver long-term benefits for patients, staff and the wider community.”

Delphine Gilbert, managing director at Dalkia Energy Services, said: “This partnership shows how major NHS estates can decarbonise critical infrastructure while protecting capital for patient care. St Thomas’ Hospital is a complex live healthcare environment, where resilience, safety and continuity are essential. Dalkia is proud to bring the technical capability needed to help modernise ageing energy systems, reduce emissions and create a scalable model that can support the wider NHS transition to heat electrification and low-carbon healthcare.”

Creating a model for wider public sector infrastructure investment

Beyond Guy's and St Thomas', the framework has been established so that other eligible public sector organisations can access the model to deliver similar infrastructure improvements. The framework is structured as a single-supplier arrangement, with Meridiam appointed as Strategic Energy Partner, enabling future participating organisations to access an established delivery model rather than running a new procurement process.

This includes NHS trusts and Integrated Care Boards, as well as a range of public bodies across south east London, including local authorities, London boroughs, functional bodies of the Greater London Authority such as Transport for London, the City of London Corporation and other public and regulatory organisations.

Designed as a technology-agnostic framework, it can support investment in heat, cooling, power and charging infrastructure, allowing organisations to develop solutions that best meet their operational needs.

Amberside Advisors' role

Amberside Advisors acted as commercial and financial advisor to Guy's and St Thomas' playing critical role in the development of the Strategic Energy Partnership. Working closely with the Trust and its wider advisory team throughout the process, Amberside Advisors designed the commercial structure, modelled Business as usual needs versus a range of scenarios, developed the business case, led market engagement, and supported negotiations that resulted in the appointment of Meridiam as Strategic Energy Partner.

Mark Easter, Director, Energy Transition at Amberside Advisors, said:

"Three years ago, Guy's and St Thomas' challenged us to develop an innovative way to attract investment into critical energy infrastructure. The result is a long-term energy-as-a-service partnership that provides a practical route to modernising essential infrastructure, improving resilience and supporting long-term service delivery. Having helped design and implement the partnership, our team is uniquely placed to help organisations assess opportunities, develop projects and navigate such process with confidence."

Amberside Advisors will continue to support the Trust as the programme moves into its next phase of development and implementation.