Heat networks like this one, which will provide buildings in the heart of Solihull with low-carbon, affordable heat and electricity, will play an essential role in the clean power transition. By helping homes and businesses in Solihull to stay warm in a cheaper and more efficient way, this investment will help more people feel the benefits of our drive towards clean power as part of the Plan for Change.”
Councillor Andy Mackiewicz, Portfolio Holder for Climate Change and Planning said:
“For individual buildings, decarbonising heat is expensive and often disruptive to occupants. A town centre energy network enables existing buildings and new developments to benefit from centrally based low carbon heat generation with minimal disruption and in a cost-effective manner benefitting from economies of scale. It also provides opportunities to instal rooftop solar panels that can supply the energy network customers, utilising roof space and ultimately protecting the green belt.
“The real beauty of this scheme is that it can expand through subsequent phases to meet growing demand and link into new buildings and developments. As we progress with the scheme, we anticipate signing up many more customers who will be able to see the obvious benefit it can provide.
Before embarking on this exciting scheme, we undertook detailed financial modelling as part of the business case, the favourable loan we have been able to secure from the NWF improves the financial case for the scheme which will recover all of its capital investment costs over its lifetime.”
Lorna Pimlott, National Wealth Fund Managing Director, Local Authority Advisory & Lending, said:
“Heat networks have a key role to play in the nation’s transition to net zero and we’re pleased to support Solihull Council in this important project. The NWF’s lower cost of finance will enable the council and Vital Energi to deliver the first phase of the heat network on time and within budget, enabling consumers to cost-effectively decarbonise their buildings while providing greater energy price resilience in the future.”
Gemma Dyson, Pre Construction Director for Vital Energi, said:
“The Solihull Low Carbon Energy Network is making significant progress on site, and this funding from NWF is more positive news. We are all working hard to get the network up and running quickly, so that the end users can benefit from low carbon heat, hot water, and power, which will be a key step in decarbonising their buildings. We’ve also been making great strides with our social value commitments on the project, ensuring that we are making a difference in the community as well as helping the borough decarbonise.”