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Published: 4 Mar 2021, 11:23 By: Deputy Editor Pivot Power s Kemsley battery storage site was one of 17 successful assets to clear in the T-1 Capacity Market auction. Image: EDF/Pivot Power. The Capacity Market T-1 auction cleared at a record high price in the UK this week, with 17 batteries winning spots. This was a sizeable jump from last year, when just two assets managed to secure spots, as the role of renewables and storage continues to grow in the country. A total kDe-Rated Capacity of 2252.116MW was procured by National Grid ESO, just shy of the target announced by the Department of Business Energy and Industrial Strategy of 2.4GW. This was significantly higher than the initial target set by the government department of 0.4GW in July 2020, in an effort to manage a “range of non-delivery uncertainties”. ....
External Company Press Release Downing Renewables & Infrastructure Trust plc has signed an exclusivity agreement with Bagnall Energy Limited in relation to a proposed investment in a 100 MW nearshore, shallow water wind farm to be constructed in Lake Vänern in southern Sweden, developed by Cloudberry Clean Energy AS.
Bagnall is part of the Downing Estate Planning Service, which is managed by Downing LLP, DORE s investment manager.
The exclusivity agreement gives DORE the option to enter into a commitment for the Wind Farm once certain conditions have been met. Once these conditions have been met, DORE would own c.40% of the project, with Bagnall and Cloudberry owning c.40% and 20% respectively. Confirmation of the acquisition is expected to be be announced in the summer of 2021. For further information see the IDTechEx report on Distributed Generation: Off-Grid Zero-Emission kW-MW 2020-2040. ....
Downing Renewables & Infrastructure Trust (DORE) has signed an exclusivity agreement with Bagnall Energy in relation to a proposed investment in the 100MW Rewind Vanern wind farm in Sweden, which has been developed by Cloudberry Clean Energy. Bagnall is part of the Downing Estate Planning Service, which is managed by Downing, DORE’s investment manager. The agreement gives DORE the option to enter into a commitment for the wind farm once certain conditions have been met. Once the conditions have been met, DORE would own about 40% of the project, with Bagnall and Cloudberry owning 40% and 20% respectively. Confirmation of the acquisition is expected to be announced in the summer of 2021. ....
Thursday, 14 January 2021 Downing LLP has announced it has exchanged contracts to acquire a portfolio of five operational hydropower plants in South Norway on behalf of Downing Estate Planning Service. Courtesy of Downing LLP The hydropower plants will now be owned by Bagnall Energy Limited, one of the two Inheritance Tax (IHT) companies within DEPS. The portfolio is being acquired from Fossberg Kraft AS/Fossberg Kraft Produksjon AS (Fossberg) who will become Downing’s partner both for development of new power plants, and operations and maintenance in Norway. The portfolio comprises five hydropower plants near the city of Bergen. Three of the power plants are in Bjørnafjorden, a small town close to Bergen, thereby allowing for streamlined operations. The two other facilities are located in Odda and Sauda respectively. The average annual production of the portfolio is 21.8 GWh. ....