Triple Point, a UK-based Investment Manager which invests in businesses that are crucial for the transition to a low carbon economy, has appointed Ylem Energy to maximise trading opportunities for its investments in gas peaking businesses.
Ylem Energy has been appointed to provide operation and maintenance (O&M) services for six peaking power plants in various locations across England. Designed to balance the fluctuating power requirement in the electricity network and operate during periods of high demand as well as covering shortfalls in electricity supply, the plants play a critical role in preventing loss of supply for commercial and domestic energy users.
Ian Gadsby, Ylem Energy, Managing Director, said: “Ylem recently delivered a successful overhaul and rebuild for two of the engines within the overall portfolio, representing significant savings when compared to other competitive estimates.
“It’s therefore very satisfying to see the partnership grow and is testament to the operational capability Ylem Energy can offer its customers. As an owner and operator of peaking plant ourselves, Ylem Energy understands commercial requirements as well as technical aspects, drawing on more than 25 years’ experience of owning and operating smart generation systems.
“I look forward to further developing a mutually beneficial long-term partnership with Triple Point in the months and years ahead.”
In addition to delivering significant cost savings to complete the engine overhauls, Ylem Energy helped to ensure all engines achieved capacity market targets ahead of the July 2022 deadline.
Jonathan Parr, Partner and Head of Energy, Triple Point, said: “As we continue to invest in projects that are key to the transition to a low carbon economy while creating a sustainable return for investors, there is a clear synergy with Ylem Energy.
“Ylem Energy’s technical expertise has already proven invaluable, ensuring the fleet was fully operational at the earliest opportunity, enabling the companies to maximise trading opportunities. As peaking plant owners, Ylem Energy shares its valuable insight which is underpinned by a real world understanding of high-quality O&M services.
“A partnership with Ylem Energy is set to provide a long-term competitive advantage and will help us to maximise the value of our assets which are an essential component in securing the UK’s energy future, helping to balance the grid and supporting the drive towards net zero.”
As the demand for power rises, peaking plants which enable the delivery of fast-responding, flexible power will continue to play an essential role in the transition to renewables, balancing the national grid during times of peak demand, especially when the output from fluctuating renewable energy sources such as wind and solar power is low.
To find out more about Ylem Energy’s O&M services, go to: https://ylemenergy.com/services