Renewed interest in energy investments

By Platinum Assets/Platinum Energy Solutions
Interest in an innovative energy project has peaked since the COVID-19 lockdown began, as investors seek a stable and reliable option. Platinum Energy...

Interest in an innovative energy project has peaked since the COVID-19 lockdown began, as investors seek a stable and reliable option.

Platinum Energy Solutions Limited – part of the Platinum Assets Group - is developing a gas-fired peak processing power plant at Southbrook Farm, Sudbrook, South Monmouthshire in Wales.

As the project is deemed an essential asset by the Welsh Assembly, work – in line with all the Construction Leadership Council safety guidelines - has continued through the lockdown and the December completion target remains in place. 

Bridging the gap between fossil fuel and renewable sources, the £14m station will comprise 10 combined cycle gas generator sets, providing up to 20 megawatts (MW) of electricity to the local area during times of peak demand when wind, wave and solar options are unable to meet the need.  

Chairman of North East based Platinum Assets, Tony Hughes, said: “The biggest problem facing most businesses right now is uncertainty.  None of us knows how the world and that of business will look a year from now.  However, whilst the property and financial markets remain volatile, we have a far more stable investment opportunity in something we all need – energy.  And as well as generating power for the community it could produce returns of up to 18% for investors.” 

SEE ALSO:

 “As one of only three plants consented and under construction in Wales, we are hopeful that we are leading the race in harnessing the technology and natural resources available to help with the transition from large scale coal and gas-burning power plants to renewable technologies.”

Peter Eagle, Managing Director with Platinum Energy Solutions Limited, added:  “We have full political backing with a 30-year operating agreement and a long term buyer for the electricity is signed up.  Cummins has been appointed to manufacture the turbines and again, this has been designated as essential work. The specialist manufacturer is ensuring all staff have received appropriate training, equipment and guidance on social distancing policies but much of the production is robotic.  The site boundary is now established and contractors lined up for the initial works.”

In addition to the plant at Sudbrook, Platinum Energy Solutions is in advanced negotiations on two new similar projects, one just 20 miles away at Pencoed and another in Immingham, Hull – which combined will generate around 120MW of energy. 

Platinum Assets is a privately-owned business with its main base in Chester-le-Street, County Durham.  It operates in a variety of developmental sectors, focusing on renewable energy projects, private residential rental and traditional housing development, across the UK. For more information please visit:  www.platinumenergy.co.uk 

For more information on energy digital topics - please take a look at the latest edition of Energy Digital Magazine.

Follow us on LinkedIn and Twitter.

Share
Share

Featured Articles

Inaugural trans-Atlantic flight highlights SAF importance

Virgin Atlantic’s first 100% SAF-powered flight from London to New York leads the way towards greener aviation fuels for long-haul journeys

IBM collaboration to boost fuel cell performance using GenAI

FuelCell Energy’s performance is set to be enhanced by Foundation Models, a form of GenAI developed by IBM, in support of transition to renewable energy

Schneider Electric exec shuffle boosts energy digitalisation

Number one sustainable company, as voted by Sustainability Magazine, Schneider Electric appointed leaders to manage the digitalisation of energy solutions

ManpowerGroup initiative aligns talent with renewable energy

Renewable Energy

Rolls-Royce develops SMRs for a low-carbon energy future

Sustainability

Chevron’s hydrogen investment and green energy endeavours

Renewable Energy