A £320m project is offering grants and loans to public and private sector organisations in England and Wales for new heat networks in the hope of solving the challenge of decarbonising heat.
Heat Networks have been proven around the world as a reliable, cost-effective and low carbon means of providing heat, yet in the UK just 2% of buildings are heated in this way. Launched by the Department for Business, Energy & Industrial Strategy (BEIS), It’s hoped the scheme will improve the uptake.
Triple Point Heat Networks Investment Management is led by Triple Point Investment Management LLP will be working alongside BEIS to deliver affordable and dependable low-carbon heat across the country.
A consortium including AECOM, Amberside Advisors Ltd, BDO LLP, Ecuity Consulting LLP, Gemserv and Lux Nova Partners Ltd have been named as delivery partners.
The consortium will be responsible for the deployment of government support for new heat networks across public and private sector estates. These could include hospitals, schools, council buildings, universities, shopping centres, industrial estates and domestic buildings.
Part of the Government’s Clean Growth Strategy, which is a key pillar of the country’s Industrial Strategy, HNIP will support the growth of the heat networks market in the UK, helping to leverage additional private and other capital.
AECOM is the technical lead for Triple Point Heat Networks Investment Management and will deliver engineering and cost consultancy services to assess the viability and deliverability of potential schemes, and will also provide guidance to applicants.
Dr Andrew Cripps, regional director at AECOM, said the programme is a vital mechanism in attempts to scale up the deployment of heat networks across England and Wales, helping to reduce carbon emissions across the country.
“With a range of buildings and estates ripe for the integration of heat networks, Triple Point Heat Networks Investment Management will help owners take advantage of government funding for their schemes,” he added. “Our consortium combines financial, legal, advisory and technical expertise, with AECOM bringing more than 30 years’ experience in the delivery of decentralised energy and heating networks to the project.”
The Clean Growth Strategy suggests that around one in five buildings will have the potential to access a largely low carbon district heat network by 2050, boosted through schemes like HNIP.
One such project to be part-funded by the government’s £320m HNIP is Manchester City Council’s plans for Manchester Civic Quarter Heat Network which will result in a 40m flue being added to the city’s skyline.
The 2km district heating network will connect several Manchester buildings, including Manchester Town Hall & Extension, Manchester Central Convention Centre, Central Library, Manchester Art Gallery, The Bridgewater Hall, and Heron House.