new partnership for £1bn of new UK heat networks • Energy company launched new Green Hydrogen joint venture • Bristol District Heat Network to expand rapidly • Read more about the developments in sustainable heating and cooling in this month's news update from the UK
Pinnacle Power, a UK heat and power generation company, has announced a new partnership with DIF capital partners, a UK infrastructure investor, to fund the construction of over 40 heat networks across the country. The new investment will help deploying £1bn worth of heat networks in the UK to help decarbonize homes and cities. This will help to reduce carbon emissions and energy costs, while also improving energy efficiency and reducing waste.
Heat-related activity is the biggest contributor to greenhouse gas emissions in the UK, accounting for 37% of total emissions in the country. When the new heat networks are built out, the investment will save up to 200,000 tonnes of CO2 a year, by reducing the need for homes and buildings to have their own gas boilers. Additionally, it will remove tens of thousands of boiler flues that would otherwise contribute to local air pollution.
As the heat networks are built and expanded, new jobs will be created in the construction and operation of the networks. This will help to support local economies and provide opportunities for people living in the area, while accelerating the journey towards net-zero by 2050.
In conclusion, the partnership between Pinnacle Power and DIF Capital Partners, will help accelerating the decarbonization of homes and cities in the UK. By deploying £1bn worth of heat networks, the companies will be able to provide sustainable heating solutions for thousands of homes and buildings, while also creating jobs and supporting local communities. This is a significant step towards achieving the UK’s goal of net-zero carbon emissions by 2050, and we look forward to seeing the positive impact of this initiative on the environment and local communities.
Read more in article from EDIE
Read more in the press release from Pinnacle Power
Octopus Renewables Infrastructure Trust (ORIT) has agreed to invest up to £5 million in HYRO Energy Limited (HYRO), a joint venture between ORIT and Renewable Energy Systems (RES). The investment will be used to develop green hydrogen electrolysis projects in England, Scotland, and Wales for industrial consumption.
The joint initiative aims to develop 700 MW of green hydrogen electrolyser capacity by 2030. HYRO’s strategy aligns with the UK’s decarbonization ambitions, with the UK government targeting the construction of 10 GW of low-carbon hydrogen capacity by 2030, at least 5 GW of which will be green. HYRO’s three initial pipeline projects, totaling about 30 MW of electrolyser capacity, have been included on the UK government’s shortlist for the first round of allocations to receive ongoing revenue support under the Hydrogen Production Business Model. The Department for Energy Security and Net Zero plans to award contracts to successful projects in 4Q23.
ORIT and Sky will each own 25% of HYRO and have the exclusive rights to provide further development funding beyond each fund’s initial £5 million commitment, as well as preferential rights to fund the construction of the electrolyser projects.
In conclusion, the new joint venture between Octopus Renewables and AMP Clean Energy is an important development in the transition to a low-carbon economy in the UK. By investing up to £5m in green hydro projects, the companies will be able to provide a reliable and cost-effective source of renewable energy, reducing carbon emissions and supporting the UK’s goal of net-zero carbon emissions by 2050.
Read more in article by Energy Global
The city of Bristol is making significant strides towards reducing its carbon footprint by expanding its district heat network, which uses low-carbon heat sources to heat homes and buildings.
Most buildings in Bristol are currently heated by gas boilers, which use fossil natural gas and contribute to over 45% of the city’s carbon emissions. A huge shift in how the city heats its buildings is planned over the next few years to move away from gas and towards heat networks.
The city’s heat network, which was first established in 2012, uses waste heat from Bristol’s energy-from-waste plant to heat homes and buildings in the city centre, and currently connects more than 2,000 homes and buildings. Now, Bristol City Council has granted a Local Development Order, which allows heat network developers to lay out pipework in many parts of the city, without lengthy planning permission processes.
The ambition is to achieve a faster expansion of the district heat network, with the aim of connecting an additional 9,000 homes and buildings by 2025. The initiative is also part of the city’s a larger commitment to reach carbon neutrality by 2030.
Read more in article from Bristol Post
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