Business & Invest | Published on: 19th July 2022
Organisations delivering local energy projects can now apply to secure funding as part of a £400,000 investment scheme.
The Energy Project Enabling Fund has been established by the North East and Yorkshire (NEY) Net Zero Hub, providing capital grants to unlock local energy projects for communal or public benefit.
Grants of between £10,000 and £50,000 are available to eligible organisations from across the Tees Valley, North East, York and North Yorkshire, Hull and East Yorkshire, West Yorkshire, and South Yorkshire.
Project proposals must focus on at least one of the NEY Net Zero Hub’s four Strategic Priorities; renewable energy technologies, heat decarbonisation, natural carbon capture and storage and circular economy. Examples of suitable projects could include a project to decarbonise oil for off-grid properties, development of a small heat network for a cluster of public use buildings, installation of community owned and communal use EV charge points or a demonstrator project for innovative decarbonising building techniques or technologies.
This funding has been provided by the Department for Business, Energy and Industrial Strategy (BEIS) as part of its commitment to the Local Net Zero Hubs.
NEY Net Zero Hub Manager, Karen Oliver-Spry said: “The Hub exists to support the delivery of local energy strategies and accelerate the delivery of projects that will enable the region to reach net zero. We know that there are some great initiatives out there but that organisations can face challenges in getting them to delivery, and that can include access to funding.
“The Hub has created this scheme to provide turnkey funding for viable projects with an existing business case. We’re really looking forward to supporting some exciting and innovative projects and this will also help us to identify areas where the Hub might be able to provide additional capacity support.”
Successful projects will be expected to include match funding of at least 30% of the overall project value, and awards will be subject to UK Subsidy Control. All successful projects will need to be completed, and funding drawn down by the end of March 2023.
Applications will close at midnight on 19 August 2022.
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