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 – dubbed ‘low-carbon heating for cities’.

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’s 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.