“The loan refinancing shows continued trust and confidence from CH1 Investment Partners LLP who arranged the financing in the ongoing profitable operation of these plants by Ethical Power,” says Stephen Williams, Ethical Power’s Chief Finance Officer.
Gas-peaking plants provide essential extra electricity generation for the national gird in periods of high demand. Fenton Lane and Huthwaite comprise 11 engines with a combined capacity of 11MW. As the UK energy infrastructure can’t yet fully cope with intermittent supply from renewables, these gas-fired plants play a vital role in system balancing and positively contribute to the UK’s security of electricity supply.
The Fenton Lane and Huthwaite gas-peaking plants are the only gas-fired power plants owned and operated by Ethical Power as it primarily develops, constructs, and operates solar parks and large-scale battery storage assets. The plants were built and grid-connected by Ethical Power in 2020 making use of existing infrastructure and grid connection planning permissions for the land.
About Ethical Power
Ethical Power is a vertically integrated renewable energy company specialising in solar power and large-scale battery storage projects. With competency across the entire life cycle of a project, from design through construction and grid connection to asset management, Ethical Power can optimise operations along the value chain and has a proven track record of delivering best-quality and highest-performing renewable energy assets in the UK. Ethical Power is quickly expanding to international markets with a growing pipeline of projects across Spain, Greece, Poland and New Zealand.
CH1 Investment Partners LLP (“CH1”) provides bespoke investment solutions to High Net Worth, Professional and Sophisticated Investors. Over the last ten years, CH1 has raised over £500 million pounds in Enterprise Investment Scheme qualifying Companies, structured debt (asset backed loan notes), individual commercial and residential property and Venture Capital Trusts. For more information visit www.ch-1.co.uk