IGas picked as preferred bidder for Wythenshawe Hospital heating

30th May 2023 16:38

(Sharecast News) - IGas Energy announced on Tuesday that its geothermal business, GT Energy, has been chosen as the preferred bidder by Manchester University NHS Foundation Trust to implement a geothermal heat solution for Wythenshawe Hospital.

The AIM-traded firm said its selection came as part of the five tenders submitted through the Carbon and Energy Fund (CEF) framework late last year.

It said the tie-up between GT Energy, the NHS Trust and the CEF would establish an 'Innovation Partnership', providing a framework for the collaboration between the parties throughout the various phases of project development.

"The Carbon and Energy Fund (CEF) has been specifically created to fund, facilitate and project manage complex energy infrastructure upgrades for the NHS and wider public sector," the IGas board said in its statement.

"With a proven track record of more than 60 projects and in-depth experience of procurement, engineering, legal and finance, the CEF is the organisation to successfully guide public sector clients through the complex processes involved."

At 1607 BST, shares in IGas Energy were up 4.61% at 15.88p.

Reporting by Josh White for Sharecast.com.