A Durham based business is generating interest in the energy sector, securing land and planning permission for a power plant that will bridge the gap between fossil fuel and renewable sources.
Platinum Energy Solutions (PES) – part of the Chester-le-street based Platinum Assests Group – will deliver a gas fired peaking plant at Southbrook Farm in Sudbrook, South Monmouthshire, Wales.
The proposed £12 million station would provide electricity to the local area during times of peak demand.
It is anticipated that the standby generating station will have capacity to create around 20 megawatts (20MW) of energy from 10 forty foot containerised Combine-Cycle Gas Generator Sets on land at Southbrook Farm in Sudbrook Road, adjoining an existing solar farm. The site could be operational by October 2020, with permission to run for up to 30 years, until a ‘longer term strategy’ is put in place.
Government grants are supporting such initiatives and the project is considered one of national importance by the Welsh Assembly.
Peter Eagle, Managing Director at PES, said: “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.”
Platinum Assets is a privately owned business in North East England, which operates in a variety of developmental sectors focusing on renewable energy projects, Private Rental Sector schemes and traditional housing development across the UK.
*Picture caption – From left to right Chairman of Platinum Assets Tony Hughes and MD of Platinum Energy Solutions, Peter Eagle. *