HEAT NETWORK INVESTMENT PLATFORM EXTENDED BY 2 YEARS TO MARCH 2025

Triple Point Heat Networks Investment Management has announced that the heat investment platform BHIVE has been extended by two years to 31st March 2025. BHIVE is a PCRcompliant Dynamic Purchasing System (“DPS”) which allows public sector heat network owners/developers to access funding and commercialisation services for their district heating schemes.

Almost 20 experienced investors and lessors have been onboarded onto the DPS, with more expected to join following this extension. Lot 1: Equity Finance covers both financial investment and commercialisation services, and is aimed at public sector users who want to access active capital (i.e. investors with the right skillsets to commercialise and deliver a district heating scheme). Lot 2: provides access to Asset Finance products.

The unprecedented scale and momentum of the UK’s district heating market – supported by significant levels of public funding and helpful policy tailwinds – has meant the sector has never been more investable. With the UK’s ambitious and pioneering net zero targets, heat networks will play a huge role in decarbonising domestic energy consumption. The industry represents one of the biggest growth potentials for energy networks in Europe, and today’s announcement will help to further the expansion of heat networks across the country, enabling investment potential of up to £50 billion by 2050.

Announcement of this extension to the platform is further recognition by the UK Government of the importance of heat networks to decarbonise buildings. Alongside recent announcements of continued capital support for low carbon heat networks to 2028, including £220 million for the Heat Network Transformation Programme, the extension of BHIVE helps cement heat networks as a core focus for achieving net zero in the UK.

The BHIVE DPS is open to Contracting Authorities wanting to access funding and, where relevant, commercialisation services for their heat network projects to:

• finance a new heat network,

• finance the expansion of an existing heat network, or https://tp-heatnetworks.org/bhive/

• facilitate the sale of part, or all, of an investment in a mature heat network – for example, where a Contracting Authority wishes to sell its stake in an operational heat network. This could also be part of a wider refinancing of the project.

The BHIVE DPS is also open to Contracting Authorities who do not expect to receive any funding from these government schemes.