UK launches 270 million pound fund to support green heating technology
(Reuters) – The UK government said on Tuesday it has launched a new 270 million pound ($373.63 million) fund in its bid to gradually transition away from gas boilers over the next 15 years.
The Green Heat Network Fund (GHNF) will only support low-carbon technologies, such as heat pumps, solar and geothermal energy, which would enable more places in the country to use these from 2022, according to a statement https://bit.ly/3zLcyB3 from the government.
GHNF is expected to fund the delivery of enough total carbon savings by 2050 to equal taking 4.5 million cars in England off the road for a year, the statement added.
($1 = 0.7226 pounds)
(Reporting by Juby Babu in Bengaluru; Editing by David Gregorio)