BEIS consults on £315m Industrial Energy Transformation Fund
BIES has launched an informal consultation titled ‘Designing the Industrial Energy Transformation Fund’ (IETF), which was announced in the autumn Budget in 2018.
What is the IETF?
The Fund will support businesses with high energy use, such as energy intensive industries, to transition to a low carbon future. The IETF has a UK-wide budget of £315m over five years to 2024, equating to £63m a year on average.
What is IETF likely to offer?
IETF support will provide a proportion of the funding for projects, with the rest match-funded by industry. There is likely to be a competitive bidding process.
Find out more and understand what you can do to maximise your chances of securing IEFT support.