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The Net Zero Delivery Vehicle is a proposed strategic partnership and governance structure between local authorities and private sector partners to accelerate and quality-assure the delivery of local net zero projects. The concept has been developed in conjunction with local authorities since 2021, and the core team has worked together since 2022 through funding from the Greater South East Net Zero Hub and Innovate UK Net Zero Living: Pathfinder Places project.
NZDV is a distinct legal structure that allows LA control and co-benefits from investment with private sector partners. Self-sustaining through market-standard development fees
Public Sector Partners contribute project portfolios and resources
Private Sector Partners will bring in expertise and a network of investors
A blended public-private finance model will be used.
• Equity and debt can be provided at the SPV level ‘ringfenced’ to individual transactions as appropriate.
• Public sector returns may be used to address sub-economic &/or policy-driven agenda.
The Managing Organisation (administered by ep group), serves as a single point of contact for stakeholders
Debt (public or private) may also be provided at project level
Procurement via existing frameworks reduces uncertainty and speeds up delivery
Stakeholder alignment at the PDU level reduces transaction costs for each project via scalable and replicable models
Project development units utilise best practices to aggregate, develop, and deliver projects across asset classes and local authorities.
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