The Welsh Government has set ambitious targets to operate at close to zero emissions by 2050.
With 9% of Welsh emissions coming from buildings, this will certainly require a substantial change in how buildings are heated in the future. Heat networks are expected to be crucial to delivering the Welsh carbon emissions targets and the milestone investment announced today by Triple Point Heat Networks Investment Management recognises this.
Triple Point Heat Networks Investment Management, the Delivery Partner for the Department for Business, Energy and Industrial Strategy led Heat Networks Investment Project (HNIP), is pleased to announce the first two funding awards in Wales. Heat networks schemes in Bridgend and Cardiff have been awarded just under £8million to support commercialisation and construction.
Heat networks (sometimes referred to as district heating) are a proven, cost-effective way of providing reliable low carbon heat at a fair price to consumers, while supporting local regeneration. They are a distribution system of pipes that take heat from a centralised source and deliver it to a number of different buildings which can easily connect to new, lower carbon heat sources in the future.