Veolia has announced a project portfolio worth £1 billion, expected to be awarded by 2030 (with £210 million already secured for 2025), as part of the rollout of its new "Ecothermal Grid" district heating offering in the United Kingdom.
"This initiative is part of the company's aim to strengthen its presence in the UK's district heating sector, utilizing a mix of energy sources to provide carbon-neutral heating and cooling," the company stated.
Veolia points out that, as of 2024, only about 3% of the UK's heating needs are met by district heating networks. However, the government's goal is to reach 20% by 2050 in order to support national decarbonization targets.
"With this target in mind, the UK's need for new district heating projects has never been greater, and the potential market value of district heating networks in the country is estimated at around £80 billion," the French group added.
Veolia Environnement is the world leader in environmental management services. Net sales break down by activity as follows:
- water-related services (40.4%; No. 1 worldwide): water resources management, drinking water distribution and delivery, wastewater collection, treatment and recovery, engineering, design, construction of water treatment facilities and customer relationship management, etc.;
- waste management services (35%; no. 1 worldwide): collection, treatment and recycling of liquid, solid, non-hazardous and hazardous waste, waste treatment and recovery through composting, energy recovery from waste, etc. Veolia Environnement also provides urban waste management services (maintenance and cleaning of public spaces, provision of mechanized street cleaning and façade treatment services), maintenance of industrial sites, and dismantling of industrial facilities and equipment at the end of their useful life;
- energy services (24.6%; No. 1 in Europe): delegated management of urban heating and air conditioning networks, management of thermal and multi-technique services (operation of heating systems, facility design, construction, and maintenance, etc.) and industrial services (industrial process analysis, production equipment operation, service, and maintenance), general management of buildings and public lighting.
Net sales are distributed geographically as follows: France (19.7%), the United States (10.9%), Poland (6.8%), the United Kingdom (6.8%), Germany (6.8%), Spain (6.3%), Australia (4.7%), the Czech Republic (4.7%), Morocco (2.8%), Italy (2.6%), Belgium (2.4%), China (2.2%), Hungary (1.8%), Chile (1.8%), Hong Kong (1.4%), Japan (1.3%), Slovakia (1.2%) and other (15.8%).
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ESG MSCI
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