VIRTUS Data Centres
Energy
| Sector | Energy |
| Sub-sector | Utilities |
| Location | United Kingdom |
Since the 1980s, a reduction in social housing stock, limited new construction and increased demand driven by population growth, have contributed to the issue.1
To help address the shortfall, the UK Government has set an ambitious housebuilding target of 1.5 million new homes by 2029.2
Critical to delivering on this is the role of last mile utility infrastructure, which connects new housing and developments to essential services such as electricity, gas, water and wastewater, heating and cooling.
Providers of these connections are working to adapt to changes in the UK’s energy landscape, with a focus on decarbonisation and transitioning to sustainable energy solutions.
Last Mile owns and manages approximately 910,000 connections, providing the vital link between distribution networks and end-customers for electricity, gas, heat, water and wastewater.
With its investment partner, MAM is supporting Last Mile’s plans to deliver an additional 730,000 contracted pipeline of multi-utility connections to meet growing demand for housing and businesses alike.3
Last Mile is also advancing decarbonisation efforts through innovative partnerships and solutions to help support the electrification of heating and transport throughout the UK – including heat networks and EV charging connections. One such partnership is Last Mile Heat, a joint venture between Last Mile and Rendesco, which provides ground and water source heat and cooling infrastructure to properties across the UK.
Last Mile Heat’s portfolio includes the UK’s largest low-carbon, water source heat network for a new mixed-use development of up to 6,000 homes in Hampshire, UK.
Outcome
The heat network uses a first-of-its-kind technology in the UK.5 This system draws water from Portsmouth Water’s Hoads Hill Reservoir and feeds it into an energy centre where a heat exchanger transfers energy from the water into an ambient heat network.
Heat pumps at each individual property within the network then convert that energy into low-carbon space heating, cooling and hot water, supplying approximately 700 homes, commercial properties, and community buildings.4
The network achieves 80 per cent lower emissions compared to traditional gas boilers and 54 per cent lower emissions than air-source heat pumps.4
As developers across the UK face ever stricter emissions targets, Welborne represents a blueprint for future projects. It exemplifies how Last Mile’s innovative model for multi-utility connections, management and financing can offer significant sustainability and cost benefits for developers and end customers alike.”
Liam Auer
Division Director, Macquarie Asset Management
& Shareholder Nominated Director, Last Mile Infrastructure
electricity and gas connections across UK network
new properties to innovative water source heat network in Hampshire
lower carbon emissions delivered by ambient head networks compared to traditional gas boilers
