Support for Development and Delivery of the Industrial Energy Efficiency Innovation Programme (IEEA)

Descriptions

Modification Notice Original description: Energy efficiency is widely recognised as a cost-effective route to deliver emission reductions over the short-medium term. It also supports energy security objectives to support the development of technologies, which would enable industry to maintain production levels whilst reducing their energy demand. The Industrial Decarbonisation and Energy Efficiency Roadmaps to 2050 identified that energy efficiency was a key route to enable industry to start to decarbonise, it also highlighted barriers to further implementation The Industrial Energy Efficiency Accelerator (IEEA) programme goal is to increase the range of industrial energy efficient products and processes, and support the wider rollout across industry. Please see the ITT for more information. Description of the modifications This contract variation is in response to the approved increase of the overall IEEA budget and size. This will enable the Carbon Trust to support the approved increased volumes of the Programme and undertake the Undertaking in Difficulty and Financial Due Diligence activity, not included in the original contract. This will ensure that projects funded through the additional grant capital funding have access to the same level of support from the Carbon Trust as previous applicants. Description of the circumstances which rendered the modification necessary and explanation of the unforeseen nature of these circumstances: all Phase 2 projects were required to pass an Undertaking in Difficulty (UiD) test and Financial Due Diligence (FDD) introduced to satisfy State Aid legislation. The UiD test was not required for Phase 1 projects and was not included in the original contract. Additional projects also came on board following approval of additional funding. this increased the number of projects to be supported under the contract.