Triple Point Heat Networks Investment Management has announced the successful transfer of HNIP funding to a number of projects prior to the conclusion of 2019-20 financial year.
Earlier this year we announced that seven projects had been successful in the initial funding rounds 1 and 2 of HNIP and we are pleased to have agreed to fund further projects (soon to be publicly announced) in subsequent rounds.
Funding awards by our Investment Committee are clearly just the start of a process, however. Successful projects are required to evidence compliance with the conditions to their award before any funding may be drawn.
The Triple Point Heat Networks team, BEIS representatives and the projects themselves have worked tirelessly to ensure that those conditions could be proven to be met before the 31st March year end such that all of the funding available in the budget year has now been deployed.
Commenting on progress, Project Director Ken Hunnisett said:
“During an entirely unprecedented period in all of our lifetimes, we are absolutely thrilled with the collective effort from everyone involved in HNIP to deliver such a successful end to the financial year. It was vitally important for us to achieve this important milestone. In deploying substantially all of the funds available to us in the year, we’ve maximised the benefits that can be derived from the sector now and in the final two years of HNIP.
I have been by overwhelmed by the spirit of collaboration during the current crisis that has long characterised our industry. By continuing to make progress wherever we can through difficult times we give ourselves the best chance of a bright and rewarding future.”
Notes to editors:
Press release on first £40m of funding awarded can be found here: https://tp-heatnetworks.org/triple-point-heat-networks-awards-40-million-to-projects/
For more information about Triple Point Heat Networks Investment Management visit: www.tp-heatnetworks.org.
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