Fund worth £185m in grants to UK businesses.
Following the success of Phases 1 and 2 and strong feedback from stakeholders, the Department for Energy Security and Net Zero (DESNZ) has announced plans to launch Phase 3 of the Industrial Energy Transformation Fund (IETF).
IETF Phase 3 will be worth £185 million in grant funding to UK businesses for energy efficiency and deep decarbonisation studies and deployment projects. The department will hold a full consultation with UK industry later this year to finalise the design of Phase 3 of the fund before launching the first IETF Phase 3 competition window early next year.
DESNZ is currently in the process of finalising plans and timelines for holding the IETF Phase 3 consultation and launching Phase 3 of the fund, which is subject to business case approvals. The Department will be engaging with stakeholders regularly over the coming months and further announcements will be made in due course.
See: Industrial Energy Transformation Fund - Phase 3 now live - NAAME
