Latest news with #CapacityMarket
Business Wire
08-08-2025
- Business
- Business Wire
Terra Firma Energy Limited Launch Strategic Review to Evaluate How Best to Expand and Adapt Its Role in Supporting the UK's Evolving Energy System
LONDON--(BUSINESS WIRE)--Terra Firma Energy (TFE), a leading developer and operator of flexible generation assets in the UK, has today launched a strategic review to evaluate how best to expand and adapt its role in supporting the UK's evolving energy system. Terra Firma Energy launch strategic review to evaluate how best to expand and adapt its role in supporting the UK's evolving energy system. The review will focus on how TFE can accelerate its contribution to national decarbonisation goals while maintaining the resilience and responsiveness that the UK grid requires. With a proven portfolio of gas peaking plants already supporting grid stability, and new assets under construction, the company is now assessing opportunities to integrate new technologies and broaden its platform. 'The UK energy market is changing rapidly, and so are the needs of the system,' said Zach Dodds-Brown, Development Director at Terra Firma Energy. 'Our flexible generation assets already play a vital role in balancing intermittent renewables. This review will define how we continue to lead in reliability, while exploring new frontiers such as battery storage, low-carbon fuels, and digital optimisation.' TFE's portfolio includes several operational gas peaking sites and others currently under construction, supported by long-term Capacity Market contracts. The review will examine both organic and inorganic opportunities, including: Deployment of utility-scale Battery Energy Storage Systems (BESS) Acquisition of complementary operating assets Integration of green hydrogen and carbon capture technologies Establishment of an in-house asset management platform to drive efficiency 'Flexible, fast-responding energy will remain critical as we shift to a renewable-powered grid,' added Zach. 'TFE's mission is to be the partner of choice for that transition — not just keeping the lights on, but doing it in a smarter, cleaner way.' The findings of the strategic review will inform TFE's next phase of investment and development, expected to be announced later this year. For more news from Terra Firma Energy please click here. Notes to Editors About Terra Firma Energy Limited Terra Firma Energy Limited are a privately owned U.K. based company operating in the development of renewable & sustainable energy projects. We design, develop & construct carefully sourced projects with the emphasis on making them a cleaner & more respectful source of energy production for future generations. Website - Home - Terra Firma Energy LinkedIn - YouTube - Facebook - Instagram - X -
Business Wire
06-08-2025
- Business
- Business Wire
GoldenPeaks Capital Has Successfully Acquired Two New Battery Energy Storage Systems in Poland
WARSAW, Poland--(BUSINESS WIRE)-- GoldenPeaks Capital ('GPC'), one of the fastest growing independent producers of green energy in Europe, has successfully acquired two new BESS (Battery Energy Storage Systems) projects under a preliminary share purchase agreement, with a total of 54 MW or 216 MWh in Poland. The two projects were awarded a 17-year Capacity Market contract in the 2024 auction as 4-hour systems, achieving the maximum capacity payments for BESS assets. The deal was closed on June 6 th, after a six-week due-diligence and contract negotiation period which was led by the Mercer acquisition team under the lead of Damian Majkowski. Adriano Agosti, Founder and Chairman of GoldenPeaks Capital said: 'This is a great example of a dedicated teamwork between Mercer, Spectris and GoldenPeaks Capital, combining their individual expertise. It also shows GoldenPeaks Capital's commitment to further strengthen BESS as a strategic pillar.' The first project, Baczyna, sums up to a total of 46MW or 184 MWh, being connected at 110 kV to the high voltage network. The second project, Jelenia Góra, sums up to a total of 8 MW or 32 MWh, being connected at 20 kV to the medium voltage network. The deals strengthen GPC's investment commitment to BESS in Poland, bringing the total portfolio volume of the current BESS-projects to 124 MW. It also highlights GPC's interest in making BESS a core pillar of its evolving business. GPC's continued investment in BESS not only creates a more diversified portfolio across our core markets but supports the ever-increasing need for flexible energy assets in Europe. The 17-year capacity market payments from these projects represent the last heavily subsidised BESS payments in Poland, positioning GPC well for long-term project success. About GoldenPeaks Capital GoldenPeaks Capital, is a company specializing in the construction and operation of solar systems and one of the largest photovoltaic system owners in Poland and Hungary, with over 15 years of experience in structuring energy projects worldwide. In addition, GPC is a pioneer in the introduction of new technologies in Eastern Europe with various BESS + PV pilot projects in Poland and Hungary. GoldenPeaks Capital will further increase the pace of shaping the industry of renewable energies in Eastern Europe by applying the seamless integration of all sectors of GPC, such as project development & engineering, financing & structuring, supply chain management, construction & commissioning, asset operations, and commercial & energy sales among others, ensuring an invaluable alignment of methodologies, ethics and goals. GoldenPeaks Capital has been awarded for its green commitment, receiving the highest sustainability quality score (SQS1) from Moody's for their green bond framework. Disclaimer Golden Peaks Capital: This press release was produced by and the opinions expressed are those of GoldenPeaks Capital as of the date of writing and are subject to change. It has been prepared solely for information purposes. Any reference to past performance is not necessarily a guide to the future. To the extent there are any forward-looking statements, these statements are based on the company's current expectations and projections regarding its business, operations and other factors relating thereto. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but GoldenPeaks Capital does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but GoldenPeaks Capital does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Fibre2Fashion
23-06-2025
- Business
- Fibre2Fashion
UK's new Industrial Strategy aimed at boosting growth, investment
As the UK government unveiled its bold new Industrial Strategy today, over 7,000 British businesses are expected to see their electricity bills slashed by up to a quarter from 2027. The 10-year, multibillion-pound strategy sets out a ten-year plan to boost investment, create skilled jobs and tackle two of the biggest barriers facing UK industry—high electricity prices and long waits for grid connections. As the UK unveiled its bold new Industrial Strategy today, over 7,000 British businesses are expected to see their electricity bills slashed by up to a quarter from 2027. The 10-year, multibillion-pound strategy sets out a ten-year plan to boost investment, create skilled jobs and tackle two of the biggest barriers facing UK industryâ€'high electricity prices and long waits for grid connections. British manufacturers currently pay some of the highest electricity prices in the developed world while businesses looking to expand or modernise have faced delays when it comes to connecting to the grid. For too long these challenges have held back growth and made it harder for British firms to compete. Today's announcement marks a decisive shift — with government stepping in to support industry and unlock the UK's economic potential, according to a UK government release. From 2027, the new British Industrial Competitiveness Scheme will reduce electricity costs by up to £40 per megawatt hour for over 7,000 electricity-intensive businesses in manufacturing sectors. These firms, which support over 300,000 skilled jobs, will be exempt from paying levies like the Renewables Obligation, Feed-in Tariffs and the Capacity Market, helping level the playing field and make them more internationally competitive. Eligibility and further details on the exemptions will be determined following consultation, which will be launched shortly. The government is also increasing support for the most energy-intensive firms like steel, chemicals and glass by covering more of the electricity network charges they normally have to pay through the British Industry Supercharger. These businesses currently get a 60-per cent discount on those charges, but from 2026, that will increase to 90 per cent. This means their electricity bills will go down, helping them stay competitive, protect jobs, and invest in the future. To ensure businesses can grow and hire without delay, the government will also deliver a new Connections Accelerator Service to streamline grid access for major investment projects, including prioritising those that create high-quality jobs and deliver significant economic benefits. The Supercharger and British Industrial Competitiveness Scheme will be funded through reforms to the energy system. The government is reducing costs within the system to free up funding without raising household bills or taxes and intends to also use additional funds from the strengthening of UK carbon pricing, including as a result of linking with the EU carbon market. 'We have set out an intention to link emissions trading systems, as part of our new agreement with the European Union to support British businesses. Without an agreement to do this, British industry would have to pay the EU's carbon tax," the release said. 'We intend to link our carbon pricing system with the EU's, we will ensure that money stays in the UK—which allows us to support British companies and British jobs through these schemes,' it added. A June report from manufacturing association Make UK cautioned that without government intervention, Britain's energy-intensive sectors could face long-term decline. It called for measures such as network cost reforms, targeted relief schemes and more predictable energy pricing. Fibre2Fashion News Desk (DS)
Epoch Times
14-05-2025
- Business
- Epoch Times
British Gas Boss Says Renewables Will Not Bring Electricity Prices Down
Britain's shift to renewables will not reduce electricity prices, the boss of British Gas has said. Chris O'Shea, the chief executive of British Gas's parent company, Centrica, Centrica has one of Europe's largest renewable energy portfolios and hopes to invest up to 4 billion pounds ($5.3 billion) by the end of 2028. O'Shea argued the strike price under a Furthermore, floating offshore wind and tidal stream remain significantly more expensive. 'They may give price stability, and avoid future price spikes based on the international gas market, but they will definitely not reduce the price,' said O'Shea. Related Stories 6/8/2023 3/16/2025 He said that 'the next time you hear someone say the build out of renewables will reduce UK electricity prices, ask them to explain how.' 'Because we need to get the facts out there so we can make the right decisions-we need to stop having a polarised debate populated with unsubstantiated, but convenient, sound bites,' he said. He said that he fully supports 'the move to a cleaner energy system.' In 2019, the UK passed laws requiring the UK to bring all greenhouse gas emissions to net zero by 2050. The UK is known for being a global leader in renewable energy, especially in terms of offshore wind energy. It has more capacity installed than any other country, accounting for roughly 20 percent of global offshore wind capacity, according to UK Research and Innovation, a national funding agency investing in science and research. However, the UK also has some of the According to the British government, electricity prices in the UK have gradually become higher than those of most other EU countries. In the early 2000s, its domestic electricity prices were the second lowest in the EU, which was then the EU-15. Leaders have said that the huge spending needed to shift away from fossil fuels will reduce energy bills. Labour UK Secretary of State for Energy and Climate Change Ed Miliband, who is pursuing a goal to decarbonize the whole economy via his Clean Power 2030 Action Plan, has promised to shave 300 pounds ($400) off the average household electricity bill by 2030. He nergy bills are rising due to spikes 'in global gas markets.' National Energy System Operator NESO said the Clean Power 2030 Plan would cost 40 billion pounds ($53 billion) or more annually by the end of 2030. Critics of British net-zero policy have argued that renewables have added to the cost of bills. The think tank Net Zero Watch, which scrutinises climate and decarbonisation policies, recently disputed claims that high electricity prices are due to the influence of gas prices on wholesale markets. It It said that around 'three quarters of the increase in bills since 2015 can be attributed to Net Zero' and that a 327-pound ($435) real-terms increase is driven primarily by renewables subsidies (83 pounds), carbon taxes (39 pounds), grid balancing (26 pounds), Capacity Market costs (26 pounds), and grid strengthening (23 pounds). A Department for Energy Security and Net Zero spokesman told The Epoch Times: 'We are making the UK a clean energy superpower to get off the rollercoaster of fossil fuel markets controlled by dictators and replace that with clean homegrown power we control. That is how we can protect family finances and our national finances. 'As shown by the National Energy System Operator's independent report, clean power by 2030 is achievable and will deliver a more secure energy system, which could see a lower cost of electricity and lower bills.'
