Peterborough City Council has opened a ‘competitive dialogue process’, seeking a long-term partner to develop the Peterborough Integrated Renewable Infrastructure (PIRI) heat and power network project.
The project will see a a new district heat network and a new private wire network rolled out in an area within a prospective heat network zone, along with a new back up energy centre. The project is expected to cost £82 million, but the area of the PIRI network is within a prospective heat network zone and Peterborough hopes for £13.5 million in government funding.
The network is expected to provide heat, power or both to private and public sector customers (including the council). The partner and the council will form a golden share corporate special purpose vehicle for development and delivery of the PIRI and to own and operate it.
Peterborough City Council estimates the value of electricity and heat income received by the Project Co will be approximately £436 million over a 40 year operating period. The Project Company will continue to own the PIRI network following this period.