The requested news item does not exist. Please return to News
LONDON, 23rd January, 2017 – Triple Point Investment Management LLP has added a UK gas-fired peaking power project to its portfolio through arranging funding for the acquisition of the construction ready 21MW Ashford project, located on the Kingsnorth Industrial Estate in Kent. JLL Energy and Infrastructure Advisory team acted as lead advisers to the sellers. The project was developed by Eider Reserve Power (‘ERP’), a leading independent developer of smart, flexible power generation in the United Kingdom, as part of a larger portfolio of UK peaking power developments including a further 4 assets which will be brought to market in early 2017. The project utilises natural gas reciprocating engines to capitalise on high power prices at times of peak demand. The project, utilising GE Jenbacher engines from Clarke Energy, will begin construction immediately with commercial operations expected to start before 1st October 2017. Mike Davies, Director, ERP, commented, “In a market with growing volumes of intermittent generation, power projects such as Ashford are able to provide utility scale volumes of power, operating more efficiently than larger conventional generation for peaking generation. In supporting this transaction Triple Point recognised the value play here and we are pleased to have concluded this transaction with them. We were aided by an excellent team of advisers including JLL and Shepherd & Wedderburn”. Dane Wilkins, Director, Energy and Infrastructure Advisory, JLL added “This is a high quality asset and the market has shown there is strong appetite for quality peaking power assets in spite of increasing levels of regulatory and general transaction market uncertainty”.
+44(0)207 399 5161