The Clean Growth Strategy’s illustrative 2050 pathways suggest that around one in five buildings could be heated by a largely low carbon district heat network by 2050. One way this potential can be unlocked is through the development of a sustainable heat network market. This press release marks the launch by Claire Perry (Minister of State for Energy and Clean Growth) and the Department of Business, Energy and Industry Strategy of the Triple Point Heat Networks Investment Management Project (HNIP). Further, it marks the announcement of Triple Point Heat Networks Investment Management as the Delivery Partner responsible for deployment of £320m of Government support which in turn should leverage around £1bn of private and other capital, supporting the growth of the heat network market in the UK.
Triple Point Heat Networks Investment Management (TP Heat Networks) have announced that the £320 million Heat Networks Investment Project (HNIP) will open for applications from 5th February 2019. The Department of Business, Energy & Industrial Strategy (BEIS) funded scheme will invest capital funding in heat network projects, offering a substantial opportunity to assist the UK in achieving a clean and cost-effective transition towards a low carbon economy.
The UK Government has announced it will seek to legislate toward a net zero target for greenhouse gas emissions by 2050, a move that is hugely positive for the growing heat networks market. Launched by The Department for Business, Energy and Industrial Strategy (BEIS) during Green Great Britain Week, the Heat Networks Investment Project (HNIP) is a major Government project which will seek to invest up to £320m of capital funding in heat network projects. Triple Point Heat Network Investment Management, the consortium responsible for the delivery of HNIP has responded to the announcement, noting that heat networks offer a substantial opportunity to assist the UK in achieving a net zero target.