A consortium of Scandinavian private equity investors, The Glupiec Consortium, are looking to build a 500-acre mixed-use development near Greenwich Peninsula in London which the consortium claims will be England’s first carbon negative development.

This means that rather than emit damaging carbon, it will use advanced technology and a mix of green energy sources. The consortium has committed itself to investing over £100m in a host of renewables that are set to include wind turbines and ground source heat pumps, as well as a novel form of photovoltaic panels.

Bjorg Vitsi, managing director of Glupiec, said: “We’re delighted to be able to make use of the fantastic opportunities offered by the London property market. The technologies we are proposing may seem space-age and unattainable but we are committed to taking every necessary step to generating a clean environment and maintaining a sustainable, long-term development that will benefit thousands of people.”