Triple Point Heat Networks Investment Management

The Power of Heat

Heat networks have been proven around the world as a reliable, cost-effective and low carbon means of providing heat, yet in the UK just 2% of buildings are heated in this way. The Clean Growth Strategy's illustrative 2050 pathways suggest that around one in five buildings could be heated by a largely low carbon district heat network by 2050.

Heat networks have the potential to reduce bills, support local regeneration and be a cost-effective way of reducing carbon emissions from heating - and they are the only way we can exploit larger-scale renewable and recovered heat sources (like the latent heat from large rivers and urban recovered heat - such as from the London Underground). 

The Department of Business, Energy and Industrial Strategy designed the Heat Network Investment Project to stimulate growth in this nascent sector and soon thereafter, launched a competition to identify a partner with the skills, experience and vision to originate and appraise investment opportunities on its behalf.

The competition - now regarded as an exemplar of UK government engagement with the  private sector – was won by Triple Point Investment Management LLP and the £320m fund  which opened in January 2019 has announced deployments of up to £165m of grant and loan awards to 24 schemes, with a capex of £421m. When commissioned these schemes will deliver 386 GWh of heat annually, connect 52,000 homes and 230 non-residential buildings, and save 47,750 tonnes of CO₂ each year.