Developer to invest £150m in heat pump market

Clean heat developer Redesco is investing £150m in the rollout of low-carbon heating in new build developments across the country.

The government has targeted 600,000 heat pump installations per year by 2028.

Rather than burning fuel, Rendesco’s systems take the heat from boreholes – which extend just below the surface of the earth – and transfer it to homes via concealed pipework.

Rendesco’s new build home solutions are owned by Last Mile Heat, which it said enables housebuilders to install ground source heat solutions in their developments at a considerably lower cost than through mainstream channels.

The approach also reduces the installation cost for households and improves the energy efficiency of homes, saving money on energy bills.

Alastair Murray, founder & chief executive, said: “In this funding commitment we are proud to be setting the standard for UK private sector investment in clean heat networks.

“Our pipeline demonstrates the fantastic progress with our Last Mile Heat joint venture and means we can offer our clean heat solutions to even more housebuilders.

“The UK’s clean heat market needs greater innovation – and quickly – if we are to effectively decarbonise the country’s homes and buildings.

“This is where Rendesco’s solutions come in, providing low-cost, low-carbon options for housebuilders, and ultimately householders, to power their homes with clean heat.”

Last Mile Heat, a joint venture between Rendesco and Last Mile Infrastructure, aims to provide ground source heat infrastructure to residential and commercial property developers across the UK, making clean heat far more accessible.

Mike Pearce, chief executive of Last Mile, added: “As an already established and trusted utility infrastructure partner of housebuilders across Great Britain, we are delighted that Last Mile Heat has put us at the forefront of providing clean heat solutions to the next generation of Britain’s homes.

“The UK ground source heat connections market is growing rapidly with ground source heat being a highly sustainable and affordable solution for new build projects, for developers and residents alike.”