LONDON, October 18, 2018 /PRNewswire/ --
Triple Point will seek partners for £1bn investment in self-sustaining Heat Network market to help meet local infrastructure and consumer needs
Project delivers cost-effective savings to meet UK's future carbon reduction commitments
Investors to benefit from a long-term, low-risk investment, and potential for attractive returns
Triple Point, an alternative investment manager providing investment solutions to private, public and institutional investors, is pleased to announce, it has been appointed to deliver the Department for Business, Energy & Industrial Strategy's (BEIS) Heat Network Investment Project (HNIP).
Triple Point will manage a commitment by BEIS of £320 million to leverage in an additional £1 billion of private and institutional investment to accelerate the design and construction of Heat Networks across the country to help meet the UK's future carbon reduction commitments.
Heat Networks form a key part of the Government's Clean Growth Strategy and proposals for decarbonising all sectors of the UK economy through the 2020s.
Triple Point will seek to demonstrate the long-term sustainable market returns of Heat Networks to help attract additional institutional and private investment to support the HNIP initiative.
Estimates place the longer term investment potential at between £16.5 billion and £22 billion by 2030. Investors can expect to benefit from a long-term, low-risk investment, with the potential for attractive returns
Heat networks deliver cost effective, low carbon heat, in the form of hot water or steam, from a central source through a network of insulated pipes. There are already over 14,000 Heat Networks in the UK supplying hospitals, universities and tower blocks, some of which have been operating for over 50 years.
Ken Hunnisett, Project Director at Triple Point Heat Networks Investment Management, said:
"We are delighted to have been chosen by the Department for Business, Energy & Industrial Strategy as the delivery partner for this hugely important heat networks project and look forward to working with our partners to unlock the investment needed to realise the massive potential in Heat Networks and roll out the infrastructure in residential, business and industrial developments across the UK. This will help to deliver the cost-effective carbon savings the UK Government needs to meet the country's carbon reduction commitments."
1. 10 IPPR Report: Piping Hot (April 2017) https://www.ippr.org/files/publications/pdf/piping-hot_Mar2017.pdf
2. Energy Trends: Experimental Statistics on Heat Networks (March 2018) https://www.gov.uk/government/publications/energy-trends-march-2018-special-feature-article-experimental-statistics-on-heat-networks
Contact: Richard Morgan Evans, email@example.com, +44(0)203-1953-249
SOURCE Triple Point