New £72.7m Waterloo and South Bank Heat Network will offer cheaper future bills for customers
River Thames could heat iconic buildings in London’s South Bank
Heat taken from the River Thames using a water source heat pump could soon provide heating to some of London’s iconic buildings in the capital’s South Bank. Organisations exploring a connection to the Waterloo and South Bank Heat Network, being developed by Hemiko, include the BFI Southbank, Southbank Centre, National Theatre, and King’s College London.
Hemiko, a heat networks investor, developer, and operator, has secured £15.6 million from the Department for Energy Security and Net Zero’s Green Heat Network Fund to kickstart the development of the new project.
The heat network, which will supply heat to buildings via a network of underground pipes, is expected to be the cheapest way to supply energy in the future. The Government has committed to cut energy bills by up to £300 over the next four years, and investing in projects that deliver cheaper energy, like heat networks, will be key to achieving this, ensuring that low carbon technologies are accessible to everyone, regardless of income.
In its recent Warm Homes Plan, the Government announced over £1bn of funding to support the development of heat networks across the country. It wants to double the amount of heat demand met by heat networks over the next 10 years, meaning more than a million households would be connected to a heat network by 2035.
The Waterloo and South Bank Heat Network is being developed now so that the infrastructure is there ready for people to make the switch. By investing early in British-built, locally operated energy systems, projects like this help future-proof communities and reduce reliance on imported energy and supply chains.
The project will also be low carbon from the start and, as buildings choose to connect to the network in place of their gas boilers, this will reduce the amount of harmful nitrogen oxides (NOx) being emitted by 72% over time.
Gas boilers are now identified as the biggest source of NOx pollution in Central London , and the Royal College of Physicians revealed that air pollution kills more than 500 people and costs the UK more than £500m a week. Consequently, a reduction in NOx emissions will improve the health of people, wildlife, and nature.
Hemiko will invest £72.7 million into the early stages of the Waterloo and South Bank Heat Network, creating over 200 jobs. The first phase alone will save 22,000 tonnes of carbon annually – the equivalent of taking 10,000 cars off the road. The Waterloo and South Bank Heat Network will expand over time, to serve more buildings in South London.
Hemiko, the developer of the Waterloo and South Bank Heat Network, is also developing the Old Oak & Park Royal Energy Network (OPEN), and part of the joint venture delivering the South Westminster Area Network (SWAN).
Hemiko is actively collaborating with local stakeholders to guide the development of the heat network in this vibrant cultural district. In collaboration with the Southbank Employers’ Group, Hemiko is supporting local initiatives and engaging with businesses to ensure the network benefits the wider community.
Toby Heysham, CEO, Hemiko said: “There are few things that say ‘London’ quite like the River Thames does, so knowing that water from the Thames could soon heat some of the capital’s iconic buildings is such a wonderful, quintessentially London story.
“By developing the Waterloo and South Bank Heat Network now, we are unlocking a cheaper future for businesses and residents in the area. Our strategy is to develop heat networks in the most heat dense area, where the customers want and need to link together and get access to the locally available waste heat. We are offering both heat and cooling to homes and businesses in the area, using the amazing local resources and huge heat density in the area.
“We’re also working closely with local stakeholders to make sure the network benefits local arts, education and cultural initiatives by partnering on carbon literacy programmes that give people the knowledge and tools to reduce their carbon emissions.”
Nic Durston, Chief Executive of South Bank Employers’ Group, said:
“Along with our partners, South Bank Employers’ Group is committed to creating a fairer and greener neighbourhood for all and to supporting the transition to net zero. Heat networks have the potential to reduce greenhouse gas emissions at scale, strengthen local energy resilience and improve air quality. Through our South Bank and Waterloo Sustains Us initiative we are working with our members and partners to realise these ambitions.”
Sara Kassam, Director of Sustainability, Estates & Facilities at King’s College London, said:
"King’s College London is excited to be exploring connection to the Waterloo and South Bank Heat Network as part of our commitment to achieving net zero carbon emissions. This project aligns with our sustainability strategy and offers a tangible opportunity to reduce adverse environmental impact. By transitioning away from gas boilers and embracing low-carbon heat sourced from the River Thames, we are helping to shape a healthier, more resilient future for our university community and the wider city."
Media contacts
press@hemiko.com
Available for interview
Toby Heysham, CEO, Hemiko
Hemiko is a heat network utility provider funding the majority of the UK’s heat network pipeline. They invest in low carbon heat networks, build them, and operate them. Hemiko is investing £1bn into town and city-scale heat networks across the UK by 2030. They are currently developing scaled heat networks in Westminster, Worthing and Old Oak & Park Royal.