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Buildings Sector – Renewable Heat Incentive Assignment of Rights
Invest to help transition the UK housing stock to a low carbon alternative to fossil fuel heating systems. Our building investments are designed to complement our green energy investments and offer investors sustainable returns with a real social impact. We work with Social Housing Providers, Local Government and Homeowners looking for financial support to transition to low carbon solutions. Currently our buildings investments focus is on utilising the recent changes in government legislation which has allowed for Investors to fund the installation of renewable heating systems. In return for the funding of the installations the nominated investors will receive the Renewable Heat Incentive paid directly from Ofgem for seven years.
Working with a combination of social housing providers and domestic homeowners we are looking
to fund an initial pilot of 1850 air source heat pump installations. We estimate the total project cost
will reach £13.4m which we aim to fund through a combination of private investments, bank finance
and contributions from the customer. Of this £13.4m we have already agreed a total of £200K working
capital and secured heads of terms with our banking partners, resulting in a £7.2m contribution.