A proposed £270 million, supporting a maximum of 50% of capital costs of projects, with maximum bids to be confirmed.
Replacing Heat Networks Delivery Unit, the Green Heat Network Fund was open for consultation until January 2021 and will be open from April 2022 for three years, with quarterly bidding windows.
To be confirmed.
Watch this space for more information and let us know if you have any projects in the pipeline which could be a good fit for the fund.
The core goal of the fund is to provide capital funding to support the continued growth of the heat network sector and to accelerate the adoption of low and zero-carbon.
The consultation document states that the majority of applications will be for projects that have undertaken a techno-economic feasibility study and conducted off-taker engagement, potentially with heads of terms in place. An internally approved business case setting out how the project is expected to be procured and financed would also be expected at this stage.
Funding may be available for activities including commercialisation of projects, accessing heat sources, generation, and distribution.
It has been proposed that the entry criteria for all different types of networks within scope is proposed to be a thermal energy demand of 2GWh/year.