Cory wins £12.1m funding to supply thousands of London homes with low-carbon heat
London-based environmental group Cory has been awarded £12.1m through the government’s £320m Heat Networks Investment Project (HNIP).
The fund, which is split into a £1.6m commercialisation grant and a £10.5m construction loan, will provide low-carbon warmth to 21,000 London 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 network.
The network will be delivered in collaboration with Swedish energy firm Vattenfall and will be among the largest in the UK.
The move shows the growing ambition needed as the UK transitions to net zero.
“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,” said Dougie Sutherland, CEO at Cory.
“This is currently the case for two million tonnes of London’s non-recyclable waste.”
Mike Reynolds, managing director at Vattenfall, added: “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.”