Launch of ¬£320m Heat Networks Investment Project
As part of Green Great Britain Week (GGBW), the government has launched the ¬£320 million Heat Networks Investment Project (HNIP).
The HNIP will support the development of heat networks¬†‚Äì¬†dubbed ‚Äòlow-carbon heating for cities‚Äô.
This funding¬†will¬†enable¬†schemes¬†to be built¬†that connect¬†domestic energy¬†consumers and non-domestic users such as hospitals, schools and council buildings¬†to a heat network and allow them to reduce¬†their heating¬†bills¬†and¬†lower¬†their carbon¬†footprint.
HNIP¬†will offer grants and loans to both the public and private sectors in England and Wales¬†and¬†aims¬†to leverage in¬†¬£1bn of private sector and other investment to accelerate the growth in¬†the heat networks market.
Heat networks will play a vital role in the long-term decarbonisation of heating, as they provide a unique opportunity to exploit larger scale renewable and recoverable heat sources.¬† As¬†the illustrative pathways¬†set out in the¬†Clean Growth Strategy¬†show, heat networks could meet up to 17% of heat demand in homes and up to 24% of heat demand in industrial and public sector buildings by 2050.
The scheme will be developed and administered by Triple Point¬†Heat Networks Investment Management¬†who work with the investment community to leverage in third party investment for projects.¬† Triple Point will work alongside several partners including AECOM Ltd,¬†Amberside¬†Advisors Ltd, BDO LLP, Ecuity Consulting LLP,¬†Gemserv¬†Ltd and Lux Nova Partners Ltd.
A document¬†has been published setting out¬†further information¬†about¬†the scheme.¬†More detailed¬†guidance¬†for applicants¬†will be¬†released in November, with the scheme opening¬†for applications in¬†January¬†2019.
For further information about¬†the scheme¬†contact KTN‚Äôs Knowledge Transfer Manager for Sustainable Energy, Jenni McDonnell here and¬†to¬†join the HNIP mailing list to receive updates,¬†please contact¬†the delivery partner here.