North East energy company invests nearly £25m in UK heating projects

A Gateshead company that is a partner in a government scheme has announced that it has invested nearly £25m in UK heating projects.

Triple Point Heat Networks Investment Management, in partnership with the Department for Business Energy and Industrial Strategy, has announced the outcome of funding round three of the Heat Networks Investment Project (HNIP).

Four projects have been awarded nearly £25m of funding, bringing the total to 11 successful schemes since the programme launched for applications.

Among the successful applicants was the Metropolitan Borough of Gateshead Council, which received £5.9m for its plans to use geothermal energy from an operational mine water treatment scheme to deliver heat to homes and buildings.

Ken Hunnisett, project director at Triple Point Heat Networks Investment Management, commented: “Mine energy would seem to be ideally suited to district heating.

“At a time when we have great cause to reflect on our domestic resilience, the ability of our coalfields to provide clean, affordable, perpetually renewing heat should be a source of great national pride.

“The Gateshead network alone will deliver 1,300 tones CO2 savings per year over the first 15 years.

“Interest in mine water energy as a heat source for district heating networks in England and Wales is strong and growing with other projects committed to using this invaluable natural resource already in our pipeline.

“In the days and weeks to come, we anticipate announcing details of the other projects who were successful in round 3 including information on another exciting HNIP first.

“We announced the successful award of funding to 7 projects earlier this year. We were also delighted to confirm the transfer of funds to these projects by the end of the 2019/20 financial year.

“This is our first funding award announcement this financial year and we are hoping to continue to update the market as awards are made over the coming months.”