Flexitricity Limited, a British demand response firm, has been acquired by Quinbrook Infrastructure Partners from Swiss multinational Alpiq AG.
Quinbrook develops and operates decrease carbon and renewable vitality infrastructure within the US, UK and Australia. The firm owns 19.5GW of energy provide capability.
Flexitricity was based in 2004 and commercialised in 2008. It has over 12 years of operational expertise and 540MW of versatile capability below administration from its 24-hour management room in Edinburgh.
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The firm grew to become the primary open-market demand response aggregator in Britain and the primary firm of its kind to enter the GB Capacity Market. It was additionally the primary electrical energy provider to deliver enterprise vitality prospects into the Balancing Mechanism.
Rory Quinlan, managing companion of Quinbrook Infrastructure Partners mentioned: “Flexitricity is an ideal match to assist us pursue our bold progress plans for the UK vitality market. The workforce has demonstrated modern functionality and shall be a power in shaping the market panorama from right here with Quinbrook’s backing. We see nice scope to broaden their enterprise mannequin right into a full menu of each asset-based and technology-enabled options for main UK vitality customers. Quinbrook’s current investments in battery storage, Virtual Power Plants and Community Energy Networks in Australia and the US will supply beneficial alternatives for cross border co-operation and information sharing that may ship actual aggressive benefit.”
Simon Heyes, CEO of Flexitricity, mentioned: “Flexitricity will proceed to function as an impartial portfolio firm, managed by Quinbrook. They are dedicated to supporting the total potential of Flexitricity’s current buyer base and offering the capital to develop a considerable portfolio of behind the meter belongings that cowl the total spectrum of a holistic service providing that has few equals within the GB market.”
Alastair Martin, the founding father of Flexitricity, provides: “This marks the beginning of a massively thrilling new section of progress and growth for Flexitricity. Everyone within the firm is delighted to be becoming a member of the Quinbrook household at this second of transition within the GB vitality scene. The UK’s net-zero carbon authorized obligation, mixed with National Grid ESO’s projections for transformation throughout electrical energy, warmth and transport, put Flexitricity’s capabilities and expertise on the centre of a clear, safe, reasonably priced and equitable vitality system.
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“The previous few years have been our most profitable so far and we’ve seen dramatic progress in our trade. We now handle a digital energy plant of 540MW of totally versatile belongings and as a part of the Quinbrook portfolio we’re assured we are going to break the 1GW threshold over the following couple of years. This funding by Quinbrook underlines the large potential within the flexibility trade and its central position in serving to the UK obtain web zero.”
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