The first project under the partnership, which will also involve Meridiam's partner, Dalkia UK's Energy Services, will deliver a new, more efficient low-carbon heating and energy system at St Thomas' Hospital.

Under the agreement, which requires no upfront NHS investment, Meridiam will take over the energy generation assets and the trust will buy energy from them at an agreed cost.

Future projects will include improving building energy efficiency, modernising energy networks within the hospital estate and replacing fossil-fuel heating systems with low-carbon alternatives.

The partnership aims to establish a scalable and replicable model to support other NHS Trusts and public bodies in south east London that are seeking to accelerate their own infrastructure transformation and decarbonisation programmes.

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.'