UKIB targets heat networks

The UK Infrastructure Bank (UKIB) has agreed a deal with the Department for Business, Energy and Industrial Strategy (BEIS) to increase the flow of financing for heat networks.

Under the deal, local authorities applying to the government’s Green Heat Network Fund (GHNF) can now access lending from the UKIB at preferential rates.

Projects will be able to access the bank’s local authority lending function, in a move that the UKIB hopes will enable authorities to make grant fundings go further, thereby delivering larger schemes at a faster pace.

“The bank is well placed to play a significant role in supporting the development of heat networks and we are pleased to be taking the next step through our new partnership with BEIS in fulfilment of this ambition,” said John  Flint, UKIB chief executive.