Heat network project will see low carbon heat supplied to p to 9,000 homes and 4m sq ft of commercial space at Peel L&P’s £5bn Liverpool Waters scheme. Tony McDonough reports
Peel Energy’s plans to install a Danish-style low carbon heat network at the £5bn Liverpool Waters scheme is being backed by £1.3m of Government funding.
Last summer it was revealed Merseyside Pension Fund was providing a £13m loan to support the project to supply heat for up to 9,000 homes and 4m sq ft of commercial space on Peel L&P’s waterfront site.
It is among a series of initiatives to receive gap funding for heat network schemes announced by the Department for Business Energy and Industrial Strategy in partnership with Triple Point Heat Networks Investment Management.
Part of the Government’s Clean Growth Strategy, the money will come from the £320m Heat Networks Investment Project 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, part of Peel L&P, 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.”
Ken Hunnisett, project director at Triple Point Heat Networks Investment Management added: “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.”