UK Export Finance (UKEF) and South Korea’s export…
1. Third phase of the Industrial Energy Transformation Fund now live
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.