Delivering Financial Support for Heat Networks
England and Wales
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. The Department for Business, Energy and Industrial Strategy (BEIS) has appointed Triple Point Heat Networks Investment Management to the role of Delivery Partner for the Heat Networks Investment Project. We are comprised of a group of professional firms with a demonstrable track record of engaging with investors and supporting project developers to deliver a wide range of infrastructure projects.
Triple Point Heat Networks Investment Management is excited to be working alongside BEIS to deliver affordable and dependable low-carbon heat across the country. Using a mix of Government and private sector funding, we will help to build a self-sustaining and transformative heat energy market for the future. We are now open for business and ready to work with project sponsors, developers and investors.
Over the next three years we will deliver £320m of Government support to individual projects across England and Wales as part of the HNIP main scheme, leveraging around £1bn of private and other capital in order to provide much needed scale to this market. The impact of this funding should be felt across the UK. Heat network construction in towns and cities will support jobs in engineering, construction, energy management and design. At the same time, many projects will be integrated into broader urban renewal and redevelopment – contributing not just sustainable heat and power but also to an understanding of place and pride in the local environment.
Large scale commercial investment is critical to the development of this market and this will be a major area of focus for the Delivery Partner team as we seek to create the right conditions and connections between project sponsors, developers and investors from the UK and around the world who may be able to support them.
From the outset we are clear on the need to ensure that projects are well-designed, commercially viable and beneficial for consumers. We are committed to a vision, shared with the Department for Business, Energy and Industrial Strategy (BEIS), to create a transformed, self-sustaining and trusted market which offers affordable and reliable low carbon heat. This will be delivered through projects which are investable, strategic, future-proofed, transparent and in the right place at the right time.
For more information, please read our latest press release here.
For more information on the each of the Delivery Partner firms please click here.
What is a heat network?
A district heat network is infrastructure used to distribute thermal energy in the form of steam, hot water or chilled liquids from a central source of production through a network to multiple buildings or sites for the use of space or process heating, cooling or hot water. They vary in size, scope, and heat source; a heat network could service the heat requirement of just two buildings or an entire city. By supplying multiple buildings with heat from the same centralised source, heat networks avoid the need for individual boilers or electric heaters in every building.
The diagram below illustrates these varying types of heat networks and their different applications.
Heat networks offer a substantial opportunity to help the UK achieving a clean and cost-effective transition towards a low carbon economy. In addition to the installation of new infrastructure, heat networks offer an investment opportunity to renew vital infrastructure and support the economic renewal of towns, cities and rural areas.
Heat networks, leveraging economies of scale, serve to reduce the amount of energy wasted, balance the supply of heat and can offer bill savings to households and businesses alike.