Waste heat to provide warmth to 21,000 London homes.
Cory have been awarded £12.1 million through the Government’s £320 million Heat Networks Investment Project (HNIP). The £1.6 million commercialisation grant and £10.5 million construction loan will support the development of one of the UK’s largest heat networks, delivered by Vattenfall, to supply low carbon heat to a total of 21,000 homes.
Cory’s existing Riverside energy from waste (EfW) facility will provide heat for up to 10,500 homes in Bexley in the first phase of the proposed heat network.
A second EfW facility – adjacent to the existing one and part of Cory’s Riverside Energy Park which received planning permission from the Government in April 2020 – will supply an additional 10,500 homes.
Serving a combined 21,000 homes, the heat network will be among the largest in the UK exemplifying the type of ambition needed as the UK transitions to net zero.
Lord Callanan, Minister for Climate Change and Corporate Responsibility, said:
“Changing how we heat our homes is a vital part of eradicating our contribution to climate change by 2050. This ground-breaking project will not only establish one of the UK’s largest heat networks but will help accelerate the roll out of cutting-edge low-carbon technologies.
“We are supporting the project with £12 million funding, which will directly benefit 21,000 households, as part of our commitment to ensure the UK’s towns and cities are cleaner places to live and work.”
Cory will work with Vattenfall to deliver the project; a collaboration that will also support Vattenfall’s goal to deliver low carbon heating to 75,000 homes across the Thames Estuary over the next decade. The nature of the heat network aligns with Vattenfall’s vision for a wider heat network that will span the Thames Estuary. The wider heat network will draw on secondary heat sources, such as heat as a by-product of commercial or industrial activities, or heat from the environment.
Dougie Sutherland, CEO at Cory, said:
“We are delighted that BEIS is supporting the development of one of the UK's largest heat networks. This is a very major step towards net zero, providing low-carbon heat for thousands of homes and businesses in Bexley and its surrounding Boroughs.”
The funding represents an important step towards heat decarbonisation in the UK and is ambitious in terms of size and carbon saving potential. Thousands of homes and businesses within and surrounding Bexley will benefit from low carbon heat, generated from residual waste that would otherwise go to landfill or to other countries as Refuse Derived Fuel. This is currently the case for two million tonnes of London’s non-recyclable waste.
21,000homes to be supplied with low carbon heat
up to 90%reduced emissions compared to conventional gas boilers
100,000truck journeys removed per year
Mike Reynolds, Managing Director, Vattenfall Heat UK, said:
“The funding and support from the Heat Networks Investment Project team, the energy team at BEIS and within Triple Point has been outstanding. Through our exciting collaboration with Cory, the HNIP funding will be a key enabler in unlocking low carbon, low-cost heat for 75,000 London homes over the next ten years.”
Cory currently uses the River Thames to transport waste from the centre of London to its EfW facility on its fleet of tugs and barges, removing around 100,000 truck journeys a year from its congested roads. The completion of the Riverside Energy Park, which will be fully operational by 2025, will remove additional truck journeys, further reducing the capital’s reliance on landfill and delivering environmental and safety benefits. The waste that travels along the River Thames will serve the heat network.
Ken Hunnisett, Project Director at Triple Point Heat Networks Investment Management said:
“The Heat Networks Investment Project is entering its final year and what better way to do so than with the announcement of funding for a project of such tremendous scale and ambition. It will be a source of great pride for everyone involved to see the collaboration between Cory and Vattenfall fulfil its commitment to delivering affordable, reliable decarbonised heat to so many communities.”
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