U.K. Heat Projects Need 2 Billion Pounds in 10 Years, DECC Says

U.K. heat infrastructure projects need 2 billion pounds ($3 billion) of capital investment over the next decade, the Department of Energy and Climate Change said.

That level of investment in an existing portfolio of 280 projects may spur as much as 6.4 billion pounds of operations and maintenance contracts over 40 years, the department said Wednesday in a report on its website.

The projects include installation of insulated pipes to take heat from central generation sources such as conventional boilers, combined heat and power plants and energy-from-waste plants to households, shops and offices, and also cover cooling programs, according to DECC.

Britain aims to get 12 percent of heat from renewable sources by 2020, a target the country is lagging on, Energy Secretary Amber Rudd said last week.