Conrad Energy completes strategic acquisition near Bedford
Conrad Energy has further consolidated its move into the battery storage arena with the acquisition of a 44MW operational battery asset near Bedford.
The largest flexible power producer in the UK continues to put supporting the transition to a low carbon economy at the heart of their strategic plans and the acquisition will enhance its growing organic battery pipeline of over 250MW.
“Battery storage has a growing role to play in supporting the grid network and creating future-fit power infrastructure for the UK,” said Steven Hardman, Managing Director. “This exciting acquisition reflects our vision for Conrad Energy as a full-service power solutions provider, leveraging the expertise of our growing team to support both the grid as well as commercial and industrial customers. Storage projects complement our flexible generation fleet as both provide essential support for increasing levels of renewable power.”
The battery asset will provide immediate revenue for Conrad Energy and the company anticipates making further targeted acquisitions and placing equipment orders in the coming weeks.
Specialist business advisory firm FRP, was appointed as the Administrators of the site on 28 September 2020 and secured the sale of the site and assets to Conrad.
The site in Bedford has recently introduced Dynamic Containment (DC), a system designed to deploy energy quickly following any significant changes in frequency deviation. DC was introduced to the UK in October 2020 and only 12 companies have been appointed by the National Grid to provide this type of energy service due to its complex technical and reporting requirements.
Jason Baker, partner at FRP and Joint Administrator, said: “We’ve been working closely with a specialist team to review the development site since we were appointed, and are pleased to have been able to secure a purchaser for the asset so quickly. It’s also a huge coup to see that the battery site has been given the green light to adopt Dynamic Containment to support the National Grid and we wish the new owners well as they take the site forward.”
The acquisition fits with Conrad Energy’s strategy to support the energy transition through owning and operating flexible power generation and storage assets as well as providing route to market services for similar plants and renewable power projects. The business also supplies commercial and industrial customers with flexible energy solutions from onsite generation as well as competitive and tailored supply contracts.