Industrial Energy Transformation Fund 18th September 2020
Industrial Energy Transformation Fund
The Industrial Energy Transformation Fund (IETF) was announced in Budget 2018 as a £315m fund aiming to help companies with high energy use to cut their bills and reduce carbon emissions.
Organisations from manufacturing SIC codes 10 – 33 will be eligible for support during Phase 1, though projects in data centres will also now be eligible for support. Funding will be provided as grants in Phase 1 for energy efficiency deployment projects and feasibility and FEED studies. The minimum grant award per project for the deployment of energy efficiency technologies has been reduced from £1 million to £250,000.
Only projects proposing to use technologies that improve the energy efficiency of industrial processes will be supported. Projects improving the energy efficiency of buildings or transport will be ineligible for funding. Applicants will not be required to limit technologies to those listed on the Energy Technology List (ETL). The IETF will also provide support for feasibility and FEED studies of energy efficiency and deep decarbonisation projects during Phase 1.
Phase 1 applications will be assessed against four criteria:
- Additionality and cost effectiveness
- Project overview and technical feasibility
- Project costs
- Deliverability and risk.
The IETF will be open to applications in England, Northern Ireland and Wales. Scotland have chosen to opt-out of the UK wide IETF and a share of the overall Fund will be made available to Scotland1. This will enable a separately administered fund supporting Scottish industries to be developed
For Phase 2, the IETF will provide grant funding support for large-scale demonstration or deployment of deep decarbonisation projects, whilst continuing to support the activities carried out during Phase 1.
If you would like to discuss your SECR requirements, please contact us on 01384 397777 or
firstname.lastname@example.org and we will be pleased to provide advice