Low cost, low carbon Mersey Heat network to receive £1.3m funding
Peel Energy, part of Peel L&P, has been awarded £1.3m of external funding towards the phase one delivery of its Mersey Heat network in Liverpool to reduce carbon emissions and help make the city region a greener place.
The district heat network will provide heat for up to 9,000 homes and four million sq ft of commercial space at Peel L&P’s £5.5bn Liverpool Waters development.
The project is among a series of initiatives to receive gap funding for heat network schemes announced today by the Department for Business Energy and Industrial Strategy (BEIS) in partnership with Triple Point Heat Networks Investment Management.
More than £30m has been awarded to five local authority projects and a further £10m 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.
Jon Burley, commercial director at Peel Energy, said: “It’s great to see the Government get behind clean growth projects across the country and in Liverpool, this funding will help us to deliver the first phase of our Mersey Heat network to benefit businesses and thousands of residents with low-cost heating, and ultimately support our drive to create low carbon communities and make the city region a greener place to live, work and invest.”
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.
“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.”