Tuesday 16 October 2018

Sustainable heat hots up with £320m of government funding

Sustainable heat hots up with £320m of government funding

The UK Government has launched the Heat Networks Investment Project (HNIP), which will invest £320 million in heat networks across the country.

It has appointed Triple Point Heat Networks Investment Management to deliver the scheme - the firm will be responsible for allocating and deploying capital, which it expects to leverage around £1 billion of private finance.

The money will be used to provide a series of grants and loans to both the public and private sectors, helping increase the market share of the technology, which experts suggest is likely to play a key role in the solving the challenge of decarbonising heat.

Heat networks distribute waste heat from a central source to a number of other customers, such as office buildings or  a block of flats - the process is highly efficient and the government estimates such systems could provide up to 17% of heat demand in homes and nearly a quarter of demand in public and industrial buildings by 2050.

The scheme will open for applications in the autumn, with the first funding decisions expected next year.

Written by

Bruna Pinhoni

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