Triple Point appoints Ylem Energy to maximise trading opportunities
Monday, 14 November 2022
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
About Ylem Energy Ltd
Ylem Energy Ltd is a leading independent power generation specialist with more than three decades’ experience in building, owning and operating smart generation systems.
We specialise in delivering state-of-the-art generation systems that fully integrate with the sites they serve, investing millions in projects that help our clients on their way to net zero and support the UK’s legally binding targets for tackling climate change and decarbonising the grid.
To find out more about Ylem Energy, please visit https://www.ylemenergy.com/
For further information contact:
Tel: 01457 820807
About Triple Point
Triple Point is the place where people, purpose, and profit meet. Since 2004, we’ve been targeting this Triple Point in areas like infrastructure, energy efficiency and social housing, unlocking investment opportunities that make a difference. We manage over £2.7 billion of private, institutional and public capital across five distinct investment strategies: Social Housing, Energy, Digital Infrastructure, Private Credit, and Venture. Each of these strategies helps to solve a problem society faces, and each one creates opportunities for investors. Our investments transform public services, get businesses off the ground, and even kickstart whole markets.
Ylem Energy Ltd are exhibiting at The Distributed Energy Show 2023 on stand 8037.