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<p>The Industrial Energy Transformation Fund was announced in October 2018. We are
providing £315m for this fund to support industrial energy efficiency and decarbonisation
projects. This will help to bring down energy costs and reduce carbon emissions for
vital industries, including energy intensive industries. We have sought stakeholder
views through our informal consultation as well as a market intelligence exercise,
helping to inform the design of the fund. We will publish a consultation setting out
our preferred fund design and invite stakeholders to comment shortly.</p><p> </p><p>The
IETF will complement existing schemes such as the Industrial Heat Recovery Scheme
and the Industrial Energy Efficiency Accelerator.</p>
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