We are very pleased to be working with Downing LLP, who closed a dedicated £125 million infrastructure fund focusing on the flexible generation sector in the UK. The increase in deployment of renewable energy has created a new class of flexible generation assets of which ours will play a significant role; this is the area where we have focused our development activities over the last two years to meet the demand for balancing the grid, created by the intermittent nature of renewable energy.
“We are delighted to see our investment partner attracting capital to the sector as we continue to work closely with Downing LLP. This validates support for the sector from the investment” said Simon Wragg, CEO of Suncredit Energy, “and with our first 4MW plant in operation, 20 MW in construction, and 140MW of advanced development sites ready to start construction this year, Suncredit Energy is on track to hit its targets for this year.”
Tom Williams, Partner at Downing LLP said “We value our relationship with Suncredit Energy and look forward to working with them on their existing projects and new plants going forward”.
Based on this new funding for the buildout of flexible generation gas peaking assets, Suncredit is now looking to expand its development operations to meet this demand.