Creating a greener world is a key priority for many sectors, so it’s no surprise that urban regeneration and sustainability now go hand in hand.
At Legal & General, we are committed to investing for social and environmental impact. That’s why, in January, we announced that LGIM Real Assets had provided debt finance to HeatRHight, a renewables funding scheme that supports the delivery of air source heat pump technology to the social housing sector.
“The technology is quite new in the UK, but it has been used for quite a long time in the US and in Scandinavia,” explains Anna Szypkowska, Investment Associate at LGIM Real Assets. “The way it works is basically like a reverse fridge or air-conditioning unit. The pump looks like an air conditioning unit and pulls the cold air from outside through the unit, producing heat in exchange which is then used to provide heat for the house.”
HeatRHight is a nominated, registered investor under the OFGEM Domestic Renewable Heat Incentive scheme (DRHI), a government incentive. The organisation provides funding to the social housing sector to allow the installation of heat pumps, which are eligible for DRHI payment.