The funding will be invested in a wide range of programmes, including pioneering heat networks and an innovative new programme to bring down the cost of retrofitting properties with the latest energy efficiency technologies.
Funds announced today includes £30 million towards the first phase of the Industrial Energy Transformation Fund (IETF), which supports energy intensive manufacturers, like car factories and steel plants, to cut their carbon footprint
Energy minister Kwasi Kwarteng said: “We want to invest now to ensure we continue to propel the UK towards a stronger, greener future.
“This new £80 million investment will help to reduce emissions across our economy, which will save people money on energy bills and protect jobs in heavy industry.”
Phase 1 of the IETF, for which guidance was published yesterday, is worth an initial £30 million in support of the manufacturing sector. The fund allows companies with high energy use to apply for grants to install technology that reduces their energy bills and cuts carbon emissions.
Worth an eventual £289 million in England, Wales and Northern Ireland up until 2024, the IETF also seeks to help bring down the costs of technologies that reduce energy consumption and emissions in heavy industrial processes.
BEIS www.gov.uk/beis
