The Department for Business, Energy and Industrial Strategy (BEIS) has launched the Phase 2: Summer 2022 competition window of the Industrial Energy Transformation Fund (IETF). Phase 2 is worth around £220m in funding between Autumn 2021 and 2025.
Businesses in England, Wales and Northern Ireland can now bid for a share of up to £70m in grant funding through the Phase 2: Summer 2022 competition window.
BP has pledged to invest up to £18bn in the UK’s energy system by the end of 2030 to help the country to deliver on its ambitions to boost energy security and reach net zero.
BP chief executive Bernard Looney said the oil and gas player is fully committed to the UK’s energy transition.