Industrial Energy Transformation Fund – Phase 3 now live
The Department for Energy Security and Net Zero (DESNZ) confirms plans to launch £185 million third phase of the Industrial Energy Transformation Fund (IETF).
Following the huge success of Phases 1 and 2 and strong feedback from stakeholders, DESNZ has today announced plans to launch Phase 3 of the IETF.
The 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.
We are currently in the process of finalising our plans and timelines for holding the IETF Phase 3 consultation and launching Phase 3 of the fund, which is subject to business case approvals. We will be engaging with stakeholders regularly over the coming months and further announcements will be made in due course.
If you have any questions regarding the IETF, please contact the enquiries team at IETF@beis.gov.uk.