East Devon carbon neutral heating scheme
Global City Futures has been appointed by East Devon District Council to act as financial advisor on developing a new heating infrastructure project that will allow new homes to be delivered to the Future Homes Standard. Chosen as specialists in renewable energy projects and commercial structuring appraisal for the public sector, Global City Futures are pleased to be taking forward this innovative project.
New heating infrastructure is required to supply low carbon heat to more than 8,000 east Devon homes, by connecting two existing heat networks. The low carbon heat energy will be generated by a forthcoming Energy from Waste plant.
This is part of the East Devon District Council’s and the UK public sector’s broader decarbonisation process. Following some scheme design work, negotiation with stakeholders across the public and private sectors and now political backing within EDDC, Global City Futures is bringing the scheme forward.
East Devon District Council are looking for a ‘cost effective solution that can be delivered at scale and at pace’. This decentralised network using heat generated away from the main grid will help protect against the backdrop of rising energy prices and fuel poverty.
Global City Futures are delivering an important part of this innovative project, including:
- Financial advisors
- Commercial structuring advisors
- Financial modelling
- Green book compliant business case production
in order to deliver a Full Business Case, with grant funding application support. Global City Futures are experienced in managing financial risk to local councils, can assist in optimal tax planning and support local councils in negotiation with the private sector.
This project will support the Council’s aims to reach carbon neutrality by 2040 and also allows new homes to be delivered to the Future Homes Standard for energy compliance: no new home from 2025 to be fuelled by fossil fuels.
This development will be a model for other councils looking for climate change solutions that will meet the low carbon, Future Homes Standard.