The UK Government has announced it will seek to legislate toward a net zero target for greenhouse gas emissions by 2050, a move that is hugely positive for the growing heat networks market. Launched by The Department for Business, Energy and Industrial Strategy (BEIS) during Green Great Britain Week, the Heat Networks Investment Project (HNIP) is a major Government project which will invest up to £320m of capital funding in heat network projects. Triple Point Heat Networks Investment Management, the consortium responsible for delivery of HNIP has responded to the announcement, noting that Heat networks offer a substantial opportunity to assist the UK in achieving a net zero target. Ken Hunnisett, Project Director and Head of Public Sector at Triple Point Investment Management LLP commented: “We are delighted to learn that the Government has accepted advice from the Committee on Climate Change and will seek to enshrine a net zero target in law during the coming weeks. Heat networks can play a huge role in the achievement of this target. One of the greatest challenges to reducing CO2 emissions is how we heat our homes as some 37% of CO2 emissions in the UK are produced from heating. Read more.
