Triple Point Heat Networks Investment Management consortium will deliver £320 million project to scale up heat network deployment in England and Wales
Global infrastructure services firm AECOM is part of the consortium announced today as delivery partner for the UK Government’s Heat Networks Investment Project (HNIP). Launched by the Department for Business, Energy & Industrial Strategy (BEIS), the £320 million project will offer grants and loans to public and private sector organisations in England and Wales for new heat networks that serve two or more buildings.
Triple Point Heat Networks Investment Management is led by Triple Point Investment Management LLP and includes AECOM, Amberside Advisors Ltd, BDO LLP, Ecuity Consulting LLP, Gemserv and Lux Nova Partners Ltd. With a collective track-record of engaging with investors and supporting project developers to deliver a wide range of infrastructure projects, the consortium will be responsible for the deployment of government support for new heat networks across public and private sector estates. These could include hospitals, schools, council buildings, universities, shopping centres, industrial estates and domestic buildings.
Part of the Government’s Clean Growth Strategy, which is a key pillar of the country’s Industrial Strategy, HNIP will support the growth of the heat networks market in the UK, helping to leverage additional private and other capital.
AECOM is the technical lead for Triple Point Heat Networks Investment Management and will deliver engineering and cost consultancy services to assess the viability and deliverability of potential schemes, and will also provide guidance to applicants.
Dr Andrew Cripps, Regional Director, AECOM, said: “Heat networks are an efficient way of providing low carbon and low cost heating, yet uptake in the UK remains minimal. The HNIP is an important programme that will scale up the deployment of heat networks across England and Wales, helping to reduce carbon emissions across the country.
“With a range of buildings and estates ripe for the integration of heat networks, Triple Point Heat Networks Investment Management will help owners take advantage of government funding for their schemes. Our consortium combines financial, legal, advisory and technical expertise, with AECOM bringing more than 30 years’ experience in the delivery of decentralised energy and heating networks to the project.”
Heat networks are an important part of the Government’s plan to reduce carbon and cut heating bills for customers. They have been proven around the world as a reliable, cost-effective and low carbon means of providing heat, yet in the UK just two percent of buildings are currently heated in this way. The Clean Growth Strategy suggests that around one in five buildings will have the potential to access a largely low carbon district heat network by 2050, boosted through schemes like HNIP.
A heat network is a distribution system of insulated pipes that takes heat from a central source and delivers it to a variety of different customers. As well as lowering bills for domestic and non-domestic users, they can reduce the UK’s carbon emissions and could play a vital role in the long term decarbonisation of heating.
The service will be open to applicants later this year. The launch document for the HNIP can be found here.
For more information about Triple Point Heat Networks Investment Management and to join their mailing list visit the website here.