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The Heat Network Investment Project

The Heat Network Investment Project. Nick Allen, Principal Corporate Finance Advisor BEIS. 24 Jan 2019. Climate Change requires action!. Source: https://www.theccc.org.uk/publication/the-fifth-carbon-budget-the-next-step-towards-a-low-carbon-economy/.

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The Heat Network Investment Project

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  1. The Heat Network Investment Project Nick Allen, Principal Corporate Finance Advisor BEIS 24 Jan 2019

  2. Climate Change requires action! Source: https://www.theccc.org.uk/publication/the-fifth-carbon-budget-the-next-step-towards-a-low-carbon-economy/

  3. Heat is the biggest source of carbon emissions Estimated UK emissions attributed to heat, 2015

  4. Options for decarbonising heat are challenging… ELECTRICITY HYDROGEN EMISSIONS REMOVAL Heat demand is estimated. Courtesy of Imperial College 4

  5. … but heat networks can help • Reduce emissions • Reduce bills • Increase resilience • Increase flexibility • Technology agnostic

  6. What is a Heat Network?

  7. Reducing carbon, reducing cost…

  8. …and, uniquely, utilising waste heat and renewables otherwise inaccessible • Water, air, ground • Energy from waste • Industrial waste heat • Buildings • Geothermal • Electrical infrastructure • Tube ventilation shaft

  9. If heat networks are so great… … why don’t they just happen? • High initial capital cost • Relatively complex • Risks too high before operational Role of the Heat Network Investment Project • Gap funding to help make schemes investable • Drive the market to improve skills and drive down costs • Involve a wider range of investors and clients • Test and learn from innovations • Driving towards the creation of a self-sustaining heat network market

  10. Role of the Heat Network Investment Project • Gap funding to help make schemes investable • Drive the market to improve skills and drive down costs • Involve a wider range of investors and clients • Test and learn from innovations • Driving towards the creation of a self-sustaining heat network market £280 million funding available • Seeking to support projects worth £1-2 billion • Grants or loans • Grants mainly to public sector • Loans mainly to private sector • Funding can cover commercialisation and construction, or just construction 20 Nov 2018

  11. Key Roles of Partners Comprised of a number of professional firms with a demonstrable track record of engaging with investors and supporting project developers to deliver a wide range of infrastructure projects, Triple Point Heat Networks Investment Management includes the following organisations:

  12. How does HNIP work • Two stage application • Quick test of eligibility and sufficient development • Full assessment requiring a well developed scheme and significant data input • Projects scored on: • Heat delivered per £ of grant requested • Carbon saved per £ of grant requested • Potential future carbon savings and • Deliverability • Applications will compete with each other at an investment panel – only the best will be funded 20 Nov 2018

  13. Timing • Launched in October 2018 • 1st Round applications deadline by late Feb / early March 2019 • 1st Round decisions in April 2019 • Then each quarter thereafter until 2021 20 Nov 2018

  14. Relevance to you? • You look after an estate with multiple buildings in one location • You could develop a scheme – talk to us for advice • You look after one or more single buildings • You may be invited to join a scheme – consider it carefully • You are developing a new building • Consider being ‘District Heating ready’ – it will be much easier later 20 Nov 2018

  15. Register for updates Visit our website and fill in the contact form to receive updates from us www.tp-heatnetworks.org Alternatively, email us with any questions or to be added to the mailing list emquiries@tp-heatnetworks.org

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