Hemiko to expand low carbon heating offer in Lambeth and Wandsworth

Hemiko, a leading heat network investor and developer, has acquired two heat networks from Foresight Group in Southwest London. The networks, one in Lambeth and the other in Wandsworth, represent an exciting growth opportunity and a springboard for more decarbonised heat connections to be offered to homes and businesses in Southwest London.

Heat networks connect homes and businesses with locally wasted heat via a network of underground pipes. They will need to be developed in every major town and city for the UK to reach its net zero commitments by 2050.

Bringing these networks under ownership will mean that Hemiko can deliver scaled heat networks in Southwest London by expanding out from the existing heat networks in Clapham (Lambeth) and Tooting (Wandsworth). Hemiko’s long-term vision is to interconnect these two networks.

This week’s acquisition represents the first major investment by Hemiko since it was acquired by DIF Capital Partners in 2023, with more announcements to be made soon by the firm. Hemiko has previously said that it plans to invest £1bn into district heating between now and 2030, through its dedicated Heat Network Fund.

Toby Heysham, CEO of Hemiko said, “Hemiko are delighted to have acquired these two networks, which we will be decarbonising and expanding, working closely with our project partners. District heating will be the most affordable way for most buildings in Southwest London to decarbonise. We will therefore focus on growth in Lambeth and Wandsworth, to ensure that more of the surrounding community can benefit from low carbon heating.”