Year First Project Acquired
The Velox Grid Support portfolio supports the UK’s transition to net-zero by providing flexible energy to the grid when wind or solar power is not available. Using gas reciprocating engines, the Velox assets can ramp up quickly to provide power during peak periods or when intermittent renewable are unable to provide sufficient power to the grid. All projects benefit from 15-year fixed index-linked Capacity Market Agreements backed by National Grid. A number of the sites are connected to the grid network at voltages of up to 11kV or what is commonly called ‘distributed generation’, making them eligible for additional valuable revenue streams.
The pre-operational Grid Support portfolio currently includes 11 sites totalling 150 MWs, of which 63 MW are located in Wales, 57 MW in England and 30 MW in Scotland. The vast majority of the sites are currently under construction and expected to be operational by early 2022. Generators are supplied by Siemens, MTU, MWM, Jenbacher and CAT and have some of the highest efficiencies available in the market.