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Industrial Energy Transformation Fund

Question for Department for Business, Energy and Industrial Strategy

UIN 141998, tabled on 22 January 2021

To ask the Secretary of State for Business, Energy and Industrial Strategy, what plans the Government has to provide further financial support to the Industrial Energy Transformation Fund.

Answered on

1 February 2021

The Industrial Energy Transformation Fund (IETF) was announced in November 2018 as a £315 million scheme to provide industry with support for energy efficiency and decarbonisation projects. The first Phase 1 competition, worth £30m, was held in 2020 and all applicants have now been notified of the outcome. The second Phase 1 competition will be held in Spring 2021. Projects funded by the IETF will help industry to reduce emissions and energy bills, while creating a green economic recovery.

The 2020 Spending Review announced increased investment to tackle climate change and deliver my Rt. Hon. Friend the Prime Minister’s Ten Point Plan for a Green Industrial Revolution. The IETF is a key part of the Government’s plan to decarbonise industry and any further financial support will be considered at the next fiscal event.