County Durham firm to expand national reach with £12m power station project
A Durham-based firm has secured land and planning permission for a power plant that aims to bridge the gap between fossil fuel and renewable energy.
Platinum Energy Solutions (PES), part of the Chester-le-street based Platinum Assets Group, will deliver a gas fired peaking plant at Southbrook Farm in Sudbrook in South Monmouthshire in Wales.
The site could be operational by October 2020, with permission to run for up to 30 years, and would provide electricity to the local area during times of peak demand.
Peter Eagle, managing director at PES, commented: “A new phase for the sector is now underway and we are seeing the most innovative and ambitious project developers diversifying into these new areas.
“By harnessing optimisation services, they are able to ensure that they can compete to supply the balancing and ancillary services now required by National Grid.
“While battery storage is perhaps the most obvious form of diversification for independent generators, investing in gas “peakers” and other forms of flexible generation has been one of the key trends we’ve observed during the past year.”
Chairman of Platinum Assets, Tony Hughes, added: “£36.6m was invested by existing energy entrepreneurs in peaking plants that delivered electricity during 2018 - a significant proportion of the £106.9m total investment in gas peakers that delivered last year.
“We are hoping to make significant returns to our investors with our unique model of delivering these assets.
“As one of only three plants consented in Wales, we are hopeful that we are leading the race in harnessing the technology and natural resources available to help with the transition from large scale coal and gas-burning power plants to renewable technologies.”
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