As part of an announcement allocating £6bn of capital funding to energy efficiency schemes, the Government specified yesterday (18.12.2023) that the Heat Network Transformation Programme will receive an additional allocation of £530m for the three years to 31 March 2028.
This includes £485m for the Green Heat Network Fund, aimed at supporting the delivery of new low and zero carbon heat networks and the decarbonisation of existing networks, and a further £45m for Heat Network Efficiency Scheme.
Amberside Advisors are part of the Heat Networks Investment Management consortium, led by Triple Point, a delivery partner to the Department for Energy Security and Net Zero (DESNZ), set up to promote and provide government funding for heat network projects from the GHNF.
We are particularly pleased to see the increase in funding attributed to the fund’s success and to the ongoing levels of high interest in it. To date, we have announced the detail of 16 awards to projects across the UK that will benefit from nearly £188m of grant funding. With almost £360m offered to projects in the first 5 rounds, news of further awards can be expected very soon.
We anticipate strong competition in 7th Round, which is due to close for applications on 23 February 2024 with a substantial volume of applications already in development. The aggregate CAPEX of projects in our pipeline is already over £3bn, so levels of competition are set to rise further still.
Click here to find out more about our role in advising on heat network projects receiving funding from GHNF.