E.On UK to partner Coventry city council to deliver a Net Zero city

E.On UK is to help Coventry city council decarbonise energy in the city, in a partnership that could last up to 25 years and rise to £2 billion in value.
The council said it “recognises the role it must play in mitigating and adapting to the Climate emergency, as a key influencer and policy maker. It also has a key role in delivering economic growth in the city and tackling inequalities. All three areas make up strands of the One Coventry plan. Providing the right energy infrastructure across the city is critical to all three of these strands. A strategic outlook on energy infrastructure will support and enable delivery of what is identified as needed.” However, it recognised constraints in resources, expertise, project delivery and routes to funding. Therefore, the new energy partner will sit alongside the council in a long-term contractual joint venture relationship
The city council said the overall objective of the project is to enable the city of Coventry to reach Net Zero in the long term, supporting the One Coventry Plan and a climate change and sustainability strategy currently in draft. It will enable:
• Zero carbon, energy efficient, resilient and adaptable buildings
• A move toward a zero-carbon circular economy approach
• Low carbon, sustainable and equitable transport across the city including electrification and ‘active travel’
• Creation of a sustainable and resilient energy infrastructure for the long-term
development needs of the city
• Meaningful and significant social value for residents
• Behavioural change across energy use (domestic and commercial) and transport throughout the city’s residents, public and voluntary organisations and private businesses
It will also involve increasing public awareness and will require E.On UK to become an active partner in delivering Coventry’s digital ambitions.
The initial term of the partnership is for 15 years, with the option to extend by two further 5-year periods.
The council expects to use “a multitude of funding sources”, including third party investment, partner investment and possible investment from the city council. Early objectives include a review of energy needs in the city and an energy infrastructure strategy which will serve as a five-year strategic business plan to complement the sustainability strategy .
It will then identify projects or initiatives and develop business cases and either provide resource or attract it from third-parties, including debt or equity funding. It will ultimately be the operating party and provide stakeholder engagement.

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