A major government project that plans to invest £320 Million across England and Wales over the next three years in now open for applications.

The Heat Networks Investment Project (HNIP), being delivered by Triple Point Heat Networks Investment Management, is inviting applicants to bid for a share of the funding.

It aims to increase the number of heat networks being built, deliver carbon savings and help create the conditions necessary for the development of a sustainable market while contributing to the decarbonisation of the UK energy system at the lowest cost to the economy by 2050.

Heat networks provide heating and hot water to households and businesses – by supplying multiple buildings with heat from the same centralised source, heat networks avoid the need for individual boilers or electric heaters in every building.

Funding offered through HNIP seeks to leverage around £1 billion of private sector and other investments to support the commercialisation and construction of Heat networks. A spokesperson from the Department for Business, Energy & Industrial Strategy (BEIS) said: “The UK has led in the decarbonisation of electricity and we are equally committed to tackling heat.

“The Heat Networks Investment Project has created a route to market for innovative energy projects across the country and demonstrates a key objective of the Clean growth strategy; to deliver technologies that lower bills, cut carbon and improve the quality of life for communities across the country.”