Triton Partners’ Post

🎉 TotalEnergies & West Burton B meeting the UK’s energy needs ⚡️🔌 TotalEnergies has signed an agreement with EIG to acquire West Burton Energy marking a significant step in our journey as an integrated electricity player. 🔌 👉 West Burton Energy operates one of the UK's most advanced power plants, West Burton B, with a total output of 1.3 GW, powering approximately 1.8 million homes. This acquisition enhances our renewable power generation capacity in the UK, providing a flexible asset to support reliable power supply. ⚡️ With our current renewable portfolio at 1.1 GW and 4.5 GW under development in the UK, this move aligns perfectly with our strategy to balance renewable and gas-based power generation. We plan to divest 50% of the acquired assets, matching our need for gas-based power generation capacity at 700 MW. This acquisition strengthens 💪 our trading capabilities in the UK’s electricity and gas markets and helps us provide affordable, available, and sustainable energy to our 300,000 customer sites. Additionally, it leverages our natural gas production projects, where we operate 30% of the country's projects. 🌐 Globally, this brings our flexible power generation portfolio to around 7 GW of gross capacity, complementing our 23 GW of renewable capacity. 🗞️ Learn more in our press release: https://lnkd.in/e65bHj3x #PowerGeneration #EnergyNews #TotalEnergies #EIG #WestBurtonEnergy

ENGIE is poised to fully take over US battery storage company Broad Reach Power after signing a binding agreement for the acquisition with private equity funds EnCap and Apollo. “This acquisition is fully in line with ENGIE’s strategy: it will contribute to the development of a low-carbon, affordable and resilient energy system where flexible assets will play a critical role alongside renewables,” said Catherine Fiamma MacGregor, CEO of ENGIE. Based in Houston, Broad Reach Power’s portfolio includes 350MW of operating assets, as well as 880 MW of assets under construction with a commissioning expected before the end of 2024, in addition to 1.7GW of advanced-stage projects and a ‘significant pipeline’ of early-stage projects. Broad Reach Power’s projects are located in Texas, California and a number of central US states. ENGIE said the acquisition will support the Group’s goal of having 10 GW of battery capacity globally by 2030. ENGIE’s acquisition of a 100% stake in Broad Reach Power is expected to close by Q4 2023, subject to the fulfilment of certain approvals from anti-trust and energy regulatory authorities. #cleanenergy

ENGIE accelerates in battery storage in the United States. ENGIE has signed on 24 August 2024 a binding agreement for the acquisition of 100% of Broad Reach Power, a leading and innovative company specialized in battery storage, from private equity funds EnCap and Apollo. The acquisition includes 350MW of operating assets, as well as 880MW under construction assets with a commissioning expected before the end of 2024, 1.7GW of advanced stage projects and a significant pipeline of early stage projects, located in two of the largest battery storage markets in the US - Texas and California.   The transaction and the development of these projects respond to the strong need for flexibility generated by the growth of the share of renewable energies in the energy mix, and the combination of ENGIE and BRP assets and energy management platforms will increase the capacity to 24/7 decarbonized electricity to customers.

West Burton Power Station has been purchased by TotalEnergies from EIG for £450 million. West Burton Energy operates the West Burton B gas-fired power plant in Nottinghamshire, which has three combined-cycle gas turbines with a total output of 1.3 GW, enough to power about 1.8 million homes. This acquisition is expected to boost TotalEnergies' trading capabilities in the UK's electricity and gas markets, enabling it to supply energy to around 300,000 customer sites in the UK. Additionally, TotalEnergies plans to leverage its 30% share in UK natural gas production to supply the West Burton B plant. With this acquisition, TotalEnergies' global flexible power generation portfolio grows to roughly 7 GW, complementing its 23 GW of renewable capacity. A big change for the iconic West Burton Power Station!!

Credit article to offshoreWIND.biz. April 2, 2024, by Adnan Memija Scottish Offshore Wind Energy Council (SOWEC) has added seven projects to the three it already selected in February 2024 for priority assessment in the Strategic Investment Model (SIM) funding round. Of these ten projects, five are port facilities, four are supply chain proposals, and one is an equipment project. #ScottishOffshoreWindEnergyCouncil #StretegicInvestmentModel #SOWEC #SevenProjects #QEDGroup #QEDEnergy #PrimeDispute

Another facet of the fierce competition that Australia faces for capital/kit to build out renewables. Flotation Energy's Carolyn Sanders highlights that long lead items/services will increasingly have to be purchased before long-term licenses and PPAs are inked, to prove to international OEMs/investors that Australia is worth the effort. In this case, it's Flotation beginning major development work in Victoria before licenses are awarded. That's actual risk capital folks. In good news, local firms are already winning work. https://lnkd.in/gKkabxnc #offshorewind #renewableenergy #renewables #energy #nem #wem #electricity #infrastructure #risk

EnBW Generation UK, alongside join venture partner bp, has joined forces with Stillstrom to conduct a comprehensive feasibility study. This study delves into the operational, technical, and economic viability of integrating offshore charging solutions for Service Operation Vessels (SOVs) and Crew Transfer Vessels (CTVs) into the Morgan and Mona offshore wind farms. The ultimate goal is to pave the way for the future enablement of electric O&M vessel operations. 🌊 Burkhard Römhild, expressing his thoughts on the study, stated: "This feasibility study marks a significant milestone in our commitment to innovation within the renewable energy sector. We believe that integrating offshore charging solutions into wind farms is a progressive step towards driving the energy transition and could help support the project’s aims for net zero O&M activities." https://lnkd.in/e87RuDZH #EnBWGenerationUK #bp #Stillstrom #RenewableEnergy #Innovation #FeasibilityStudy #OffshoreCharging #WindEnergy #EnergyTransition #NetZero #OandM #Collaboration #Milestone #PressRelease

Credit article to offshoreWIND.biz. April 2, 2024, by Adnan Memija Scottish Offshore Wind Energy Council (SOWEC) has added seven projects to the three it already selected in February 2024 for priority assessment in the Strategic Investment Model (SIM) funding round. Of these ten projects, five are port facilities, four are supply chain proposals, and one is an equipment project. #ScottishOffshoreWindEnergyCouncil #StretegicInvestmentModel #SOWEC #SevenProjects #QEDGroup #QEDEnergy #PrimeDispute

Exus Management Partners buys 306MW wind portfolio in US for repowering, at an estimated enterprise value of ~$260mn 🔍 Enerdatics estimates the enterprise value of this transaction at ~$260mn, representing a deal multiple of ~$0.85mn/MW. Asset details 🌬️ The transaction involves the acquisition of four wind projects in the PJM region from Vitol and Oppidum Green Energy. Three wind farms with a combined capacity of 167 MW will be repowered within the next three years, while the fourth is expected to be repowered by the end of this year. 📈 Three projects have a 4-year PPA with Shell-owned power retailer Inspire Clean Energy, signed in 2023. The repowering is estimated to increase the nameplate capacity of the wind farms by as much as 25%. Deal valuation 💡 Enerdatics' analysis is based on precedent deals like Ecofin's acquisition of Whirlwind wind farm ($0.81mn/MW) and considers the repowering horizon, which we believe exerts upward price pressure on the valuation. 🔎Meanwhile, utility PPA-backed wind farms with over 10 years of remaining contracted life have been transacted at higher multiples. Examples include Clearway's 2021 buy of a 413 MW portfolio in Texas at $1mn/MW, and Innergex's 2022 acquisition of a 37.75% stake in Idaho wind farms at $0.91mn/MW. #RenewableEnergy #WindEnergy #Sustainability #Investment #EnergyTransition #Exus #PJM #PPA #Repowering #CleanEnergy #GreenTech

Ørsted joins RE-Source as a Strategic Partner! 🤝 We're thrilled to have Ørsted join our community of leading energy buyers and suppliers, working together to unlock the full potential of corporate PPAs and drive the energy transition forward! This strategic partnership will be instrumental in: ✔ Shaping the regulatory framework for corporate renewables procurement; ✔ Engaging new corporate energy buyers; ✔ Expanding solutions for corporate decarbonisation. Ørsted, brings their extensive experience to accelerate RE-Source's mission: empowering more companies to procure renewable energy and expand the pool of corporate buyers in Europe. Read more: link in the comments 🔗 #RESourcePlatform #RenewablesProcurement #CorporateSustainability #Orsted