Amberside Advisors continued support for the GHNF delivery off to a flying start

We are delighted to announce that Triple Point Heat Networks Investment Management (TP Heat Networks) has been appointed to continue as the delivery partner for the UK Government’s Green Heat Network Fund (GHNF) for another five years, with support from Amberside Advisors alongside five other industry experts - Triple Point, AECOM, Asteros, Gemserv, and Lux Nova.

This news is promptly followed by a landmark announcement, with over £100 million awarded in the largest funding round of GHNF to date, marking a great start of the next phase of our collaboration within TP heat Networks.

The re-appointment, which followed a robust and competitive selection process, is a testament to the outstanding work and dedication of the entire TP Heat Networks consortium, which managed the GHNF delivery over the last three years, driving the UK's transition to low-carbon heating solutions.

Since 2018, Amberside Advisors has been a proud and integral part of the TP Heat Networks. Together, we have successfully delivered the Government’s flagship Heat Networks Investment Project (HNIP), which laid the groundwork for the GHNF. The new five-year contract, running from 2025 to 2030 will build on that proven track record of partnering with Government since the launch of HNIP.

The impact of GHNF

Since its inception three years ago, the GHNF has been a cornerstone of the government’s efforts to decarbonise heating, aligning with broader objectives to create green jobs, transform the supply chain and stimulate economic growth, also by attracting private investment into the sector, with every pound of public funding typically leveraging over three pounds from private capital.

Since 2022 the fund has awarded more than £621 million to 63 projects. Once operational, these low carbon heat networks will connect nearly 70,000 homes and 1,700 non-domestic customers, while reducing carbon emissions by more than 395,000 tonnes per year over the next 40 years, showcasing the funds’ critical role in reducing carbon emissions and promoting sustainable energy solutions. Any future rounds are subject to further funding being made available.

The latest announcement confirming the largest funding round, will see eight low carbon heat networks in London, Bristol, the West Midlands, Lincolnshire, and the North West receive major investment to kick-start commercialisation and heat network construction.

Looking forward to continued success

Amberside Advisors remains committed to supporting TP Heat Networks in delivering the GHNF, supporting innovative projects that leverage low-carbon technologies such as heat networks, heat pumps, waste heat from industrial processes, and geothermal energy. Our deep sector knowledge and project expertise will ensure an outstanding applicant experience and the successful implementation of low-carbon heat networks across England. We are excited to continue our journey towards a net-zero future, contributing to the UK’s mission to decarbonise its heating and cooling networks by 2050.

This appointment comes at a pivotal moment in the industry with anticipated regulation on heat network zoning set to unlock significant inward investment and deliver huge market growth.

Neil Rutledge, Director at Amberside Advisors, said:

“We are delighted with TP Heat Networks re-appointment as the delivery partner for the Green Heat Network Fund and we are looking forward to contributing to the next phase of this important initiative. This third consecutive award highlights the strong collaboration and dedication of our consortium in advancing the UK's low-carbon heating solutions. Over the past seven years, Amberside Advisors has supported innovative projects and built strong relationships with applicants. Our expertise in the heat sector will continue to drive the successful implementation of GHNF, ensuring sustainable and affordable heating solutions for communities across England, helping to achieve the UK's net-zero ambitions and stimulate economic growth.”

Minister for Energy Consumers, Miatta Fahnbulleh said:

“Developing heat networks with a green heating source not only helps our mission to reach net zero but also helps communities to benefit from low-cost and efficient heating. Our Green Heat Network Fund supports innovative projects to do this, with low-carbon heat from sources such as data centres and factories providing hot water to connected buildings. This new contract means we will work with Triple Point to support the creation of more heat networks as we make Britain a clean energy superpower.”

Ken Hunnisett, Head of Clean Heat at Triple Point, said:

“We’re incredibly proud to continue our work with the government at such an exciting time for heat networks. This contract reflects our long-standing commitment to professionalising the market and creating opportunities for sustainable growth. With heat network investment potential estimated to be as much as £100 billion by 2050, we take pride in the role we’ve played in embedding and expanding this industry across the UK. We’re eager to be at the forefront of delivering a commercially driven, self-sustaining district heating sector, one that supports the UK’s net zero ambitions and attracts substantial patient, private capital.”