Water Source Heat Pumps Challenge Fund
The Scottish Government has today announced the launch of the Water Source Heat Pumps Challenge Fund. The fund will support projects to accelerate the delivery of renewable and affordable heat through the use of water source heat pump technology in Scotland.
The Challenge Fund is being run as part of the Low Carbon Infrastructure Transition Programme which has been designed to support potential projects from across the public, private and community sectors through the various stages of their development. Support of up to £75,000 is available to assist with the development of an investment grade business proposal. Up to £2 million, where that is 50% or less of the total cost of the project, of financial support is also available to support a commercially viable demonstrator project.
Expressions of Interest are sought from individuals or organisations in the public, private or community sectors with a Water Source Heat Pump proposal:
- Requiring support to understand the approach that investors take in assessing the invest-ability of low carbon solutions and to help develop their business proposal for a large scale Water Source Heat Pump project to highlight the scale of the investment opportunity and the potential return; and/or
- That have a fully developed investment grade business proposal for a large scale Water Source Heat Pump project but have been unable to identify private investment and are seeking financial support for a commercially viable demonstrator project.
The deadline for Expressions of Interest is 16 October 2015. A number of workshops will be run by the Scottish Government and Scottish Enterprise to assist potential applicants to better understand the objectives of the Fund, the processes for expressing an interest and applying in due course, if invited.
You can find out more information about the Challenge Fund, including how to express an interest in applying and how to book a place on one of the workshops, here.
The fund will support projects to accelerate the delivery of renewable and affordable heat through the use of water source heat pump technology in Scotland