Department for Energy Security and Net Zero reposted this
We have today announced a £9.6m loan to Solihull Metropolitan Borough Council to help deliver its ambitious town centre energy network. The innovative new network will provide low carbon heating, hot water and power (electricity) to a range of town centre buildings, helping to reduce fuel bills and future-proof against changes in customer energy needs. The project, delivered by Vital Energi Utilities Limited, will be the first heat network to receive funding from the NWF, and this low-cost long-term financing option will enable the Council and its delivery partners to complete installation of the pipework for the first phase of the project. Commenting on the investment, Lorna Pimlott, National Wealth Fund Managing Director, Local Authority Advisory & Lending, said: “Heat networks have a key role to play in the nation’s transition to net zero and we’re pleased to support Solihull Council in this important project. The NWF’s lower cost of finance will enable the council and Vital Energi to deliver the first phase of the heat network on time and within budget, enabling consumers to cost-effectively decarbonise their buildings while providing greater energy price resilience in the future.” Read more about our investment here: https://lnkd.in/easkxwwb 𝘊𝘢𝘱𝘵𝘪𝘰𝘯: (𝘓𝘦𝘧𝘵) Simon Jones 𝘙𝘦𝘨𝘪𝘰𝘯𝘢𝘭 𝘔𝘢𝘯𝘢𝘨𝘦𝘳, 𝘝𝘪𝘵𝘢𝘭 𝘌𝘯𝘦𝘳𝘨𝘪 (𝘙𝘪𝘨𝘩𝘵) 𝘊𝘰𝘶𝘯𝘤𝘪𝘭𝘭𝘰𝘳 Andy Mackiewicz, 𝘚𝘰𝘭𝘪𝘩𝘶𝘭𝘭 𝘊𝘰𝘶𝘯𝘤𝘪𝘭, 𝘗𝘰𝘳𝘵𝘧𝘰𝘭𝘪𝘰 𝘏𝘰𝘭𝘥𝘦𝘳 𝘧𝘰𝘳 𝘊𝘭𝘪𝘮𝘢𝘵𝘦 𝘊𝘩𝘢𝘯𝘨𝘦 𝘢𝘯𝘥 𝘗𝘭𝘢𝘯𝘯𝘪𝘯𝘨, 𝘰𝘷𝘦𝘳𝘭𝘰𝘰𝘬𝘪𝘯𝘨 𝘵𝘩𝘦 𝘯𝘦𝘸 𝘦𝘯𝘦𝘳𝘨𝘺 𝘤𝘦𝘯𝘵𝘳𝘦 𝘴𝘪𝘵𝘦 𝘪𝘯 𝘚𝘰𝘭𝘪𝘩𝘶𝘭𝘭.