Industrial Energy Transformation Fund (IETF)
The Industrial Energy Transformation Fund (IETF) can provide vital funding to help your business become net zero. It launched in 2020 and provides grant funding to manufacturing organisations for energy efficiency projects that reduce fuel bills and carbon emissions. Grants are available for businesses to undertake feasibility studies, engineering studies and energy efficiency projects and will cover at least 50% of the cost of these.
Under the scheme, up to £315million in funding is available in two phases:
- Phase one: For feasibility and engineering studies and for the deployment of industrial energy efficiency projects.
- Phase one Spring 2021: The second round of Phase one closed on 14 July 2021. This phase will saw up to £40million of funding available for projects that support energy efficiency and decarbonisation studies.
- Phase two: (launching Autumn 2021) will expand the scope of the fund to include deployment of decarbonisation technologies.
How can ENGIE help?
ENGIE can identify suitable energy efficiency projects for you, through the production of a net zero roadmap and help you to apply for IETF funding for the delivery of these projects.
We can then use this funding to help you maximise the delivery of successful projects. Our net zero solutions are integrated and carefully targeted to ensure the delivery of successful projects to help you achieve your specific sustainability goals. Together we will achieve net zero.
For advice on how to apply and to get the most out of this fund, or to discuss how feasible the funding is for your business, get in touch with our sustainability experts to find out more.