{"id":96830,"date":"2021-07-26T15:09:05","date_gmt":"2021-07-26T14:09:05","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=96830"},"modified":"2021-07-26T15:09:05","modified_gmt":"2021-07-26T14:09:05","slug":"joint-venture-heat-networks","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/energy-news\/joint-venture-heat-networks\/96830\/","title":{"rendered":"New joint venture to develop low and zero-carbon heat networks"},"content":{"rendered":"

Gas distribution company SGN<\/a> and Vital Energi<\/a> are combining to form Energy Services Company (ESCO), a private sector initiative to develop and operate low and zero-carbon heat networks<\/h2>\n

ESCO includes delivery of heat to developments planned by SGN\u2019s property arm, SGN Place, and the local vicinities where there is a demand for low-carbon heat.<\/p>\n

It is estimated that the heat network<\/a> market requires approximately \u00a330bn of investment by 2050 to meet the UK Government\u2019s net zero targets, and the decarbonisation of heat has been highlighted as a particular challenge where heat networks can offer a solution.<\/p>\n

The Climate Change Committee<\/a>\u2019s Sixth Carbon Budget suggests the UK should target 20% of UK heat demand through low-carbon heat networks by 2050.<\/p>\n

Alternative heat solutions<\/h3>\n

SGN and Vital have ambitious plans to establish solutions to this challenge across strategically located sites. These locations are a combination of redundant sites owned by SGN and others which will be developed over time through Vital\u2019s existing market presence.<\/p>\n

The objective is to supply new and existing residential, industrial and commercial facilities and development activity is already underway for two projects in Scotland and the South East, with another 20 in the pipeline.<\/p>\n

SGN is looking to develop alternative heat solutions alongside its core gas distribution business and expand into the growing district heating<\/a> market, recognising the future of heat is likely to include a mix of technological solutions and energy sources.<\/p>\n

Vital Energi is seeking to expand into asset ownership opportunities to complement its core design, build and operations businesses.<\/p>\n

The complementary skillsets of both organisations will offer a compelling proposition for developers, commercial and industrial users and public sector bodies seeking low-carbon heat solutions<\/a>.<\/p>\n

Supporting decarbonisation<\/h3>\n

SGN\u2019s director of commercial services and investments, Marcus Hunt, said: \u201cHeat networks are likely to play an increasing role in the delivery of UK heat in the context of net zero.<\/p>\n

\u201cThe creation of this joint venture with market-leading Vital Energi enables us to build a presence in this emerging market, delivering new heat infrastructure and supporting decarbonisation<\/a>.\u201d<\/p>\n

Nick Gosling, chief strategy officer at Vital Energi, added: \u201cWe\u2019re really excited to be extending our asset ownership portfolio and working alongside SGN on regeneration initiatives that will revolutionise the heat network market.<\/p>\n

\u201cCombining the resources, expertise and know-how of both organisations will allow us to play a major role in delivering the UK\u2019s transition to low and zero-carbon heat.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

Gas distribution company SGN and Vital Energi are combining to form Energy Services Company (ESCO), a private sector initiative to develop and operate low and zero-carbon heat networks.<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[307],"tags":[430,714,93645],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-96830","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-energy-news","7":"tag-energy-efficiency","8":"tag-heating","9":"tag-net-zero"},"acf":[],"yoast_head":"\nNew joint venture to develop low and zero-carbon heat networks<\/title>\n<meta name=\"description\" content=\"Gas distribution company SGN and Vital 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