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Triple Point Heat Networks Awards £40 million to Projects

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The first projects to receive gap funding for heat network schemes have been announced today by the Department for Business Energy and Industrial Strategy (BEIS) in partnership with Triple Point Heat Networks Investment Management. With over £30 million awarded to five local authority projects and a further £10 million awarded to two exciting private sector projects in South East London and Liverpool.

Marking another step forward in the government’s Clean Growth Strategy, the money will come from the £320m Heat Networks Investment Project (HNIP) fund. These projects are the first beneficiaries to be formally announced by the scheme which is open to public and private sector organisations in England and Wales.

The Heat Networks Investment Project (HNIP) has offered funding to:
Barking Town Centre Strategic Distribution Energy Scheme (Funding Award: £5m)
To create a low carbon district heating scheme in Barking Town Centre, serving a mixture of new developments comprising more than 8,000 homes as well as a number of existing buildings.

Bristol City Council: Old Market Heat Network (Funding Award: £6.59m)
To support the installation of a key phase of the city centre-wide provision of low carbon heat. The Network will supply 17 buildings including 10 office blocks, 4 residential blocks, two hotels and one school.

Bristol Redcliffe Heat Network (Funding Award: £3.6m)

To expand the existing network and the installation of a second low carbon energy centre, supplying heat to a number of new commercial developments.

Leeds City Council (Funding Award: £2.4m)

To extend a recently completed heat network into the city centre. The extension will deliver low carbon heat from the Recycling and Energy Recovery Facility (RERF) to five council buildings and has been oversized to allow existing buildings and developments to connect in the future.

Energetik: Meridian Water Heat Network (Funding Award: £14.76m)

To supply low carbon waste heat to 10,000 homes and eventually connect to three other housing developments in the Borough to supply over 15,000 homes. The network has capacity to expand and the company hopes to connect to supply heat to neighbouring London boroughs.

Veolia: South East London Combined Heat and Power Heat Network (Funding Award: £5.5m)

To create a new pipework branch from South East London Combined Heat and Power (SELCHP) – a major energy from waste plant – to transport waste heat to 3,500 new homes.

Peel Energy, part of Peel L&P: Liverpool Waters Heating Network (Funding Award: £1.3m)
To support the supply of heat to multiple residential and commercial buildings with a temporary energy centre and an accelerated transition to a low carbon heat source.
Ken Hunnisett, Project Director at Triple Point Heat Networks Investment Management said:
“We are delighted to offer funding to these highly deliverable projects, each of which scored well in the opening funding rounds in terms of the key scheme metrics of heat delivered and carbon saved.

Of course, this is only the beginning of the story. We know that there is a substantial pipeline of projects out there and as such this announcement today will be the first of many. We hope it helps to build confidence in the market and that it encourages others to come forward and take advantage of this unique opportunity. People need to engage with some urgency as HNIP is a time-limited scheme that closes in March 2022. Heat networks offer a unique opportunity to utilise a range of heat sources to deliver low carbon heating and cooling to multiple properties. We look forward to working with future applicants to support them throughout their application journey.”

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