Sustainable heat hots up with £320m of government funding

The UK Government plans to offer a series of grants and loans to both the public and private sectors

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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.

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