£315m Energy Transformation Fund opens for consultation

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A CONSULTATION to shape the Industrial Energy Transformation Fund (IETF) to be launched on 2024 is open for submissions.

The £315 million fund will support businesses with high energy use to cut their bills and emissions through increased energy efficiency and to reduce their emissions by de-carbonising industrial processes.

The consultation seeks views to help finalise the design of the fund, outlining proposals to matters such as defining suitable applicants, supported technologies and the delivery of the fund.

Those interested in responding to the consultation are likely to include large businesses, environmental NGOs, SMEs and local governments.

The first phase of the Fund is sought to be launched with guidance for applications in spring 2020 and to open for applications in summer 2020. The second phase will commence in 2021.

This consultation closes at 11.45pm on 21 November 2019.

ICON has contributed into pre-discussion and will continue to take part in the consultation process. Please get in touch by email [email protected] for more information or to take part in the discussion.

For more information, visit https://www.gov.uk/government/consultations/industrial-energy-transformation-fund-finalising-the-design