Tender Notice for Peterborough Integrated Renewable Infrastructure (PIRI) Project

The Peterborough City Council has sought a long-term Development Partner to enter into a golden share corporate special purpose vehicle (Project Co) with the Council for the development and delivery of the PIRI heat and power network.

Project Co will be responsible for owning, operating, and delivering the PIRI network. The Development Partner must provide investment and oversee the design and construction of a citywide district heat network, private wire network, a new PERF heat offtake facility, modifications to the existing power offtake facility, and a backup energy center for the heat network. Additionally, they will manage and maintain the assets, operate the energy networks, and handle the retailing of heat and electricity sales. The Development Period is expected to be brief and will involve negotiating heat and power offtake from the Peterborough energy recovery facility, securing supply agreements with public and private sector customers, refining the financial model, obtaining project financing, finalizing the network design, and acquiring necessary consents and land rights for implementation.

The estimated value of electricity and heat income received by Project Co will be approximately GBP 436 million (US$ 550.7 million) over a 40-year operating period. The deadline for applications is March 10, 2025.