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Work starts on battery storage plant at former Lincolnshire gas power station
Centrica Business Solutions has revealed plans to convert a decommissioned Lincolnshire gas-fired power station into a battery storage facility capable of supplying the equivalent of a full day’s energy consumption for 11,000 households.
Working in partnership with GE, the company has started construction on a 50MW /100MWh battery storage project at Brigg, which will provide energy storage for the 43 onshore wind farms across Lincolnshire, maximising the potential of every megawatt of green electricity and providing vital resilience for the grid.
Storing renewable energy in this way makes it possible to better control the peaks and troughs associated with renewable energy generation – charging the batteries when electricity demand is low and discharging when demand peaks. The battery installed at Brigg represents the largest investment in storage capacity Centrica has made to date. It will have the capacity to store 100MWh of electric energy, equivalent to a full day’s energy consumption for around 15 per cent of the homes in North Lincolnshire.The battery storage system, supplied by GE, will provide grid support and energy services that will not only provide stability to the grid when there are power disruptions but also ensure renewable energy is utilised optimally, which should free capacity to allow more new renewable generation on the network.
Greg McKenna, Managing Director of Centrica Business Solutions, said: “Investing in low-carbon energy assets that boost the UK’s ability to store more renewable energy is key to getting to Net Zero. Lincolnshire has 242MW of onshore wind power capacity, but when supply outstrips demand some of those green electrons will go to waste if not stored. Working with GE we’ll store green energy produced locally and use it as efficiently as possible.
“As the UK’s power generation capacity becomes more distributed and the share of renewables increases, generation flexibility becomes critical to keep the lights on securely, sustainably, and affordably. Brigg battery storage investment will ensure we can maximise the use of the green energy generated by nearby wind farms – storing when the wind blows and discharging when it doesn’t.”
Prakash Chandra, renewable hybrids Chief Executive Officer at GE, said: “The UK has been one of the earliest and largest players in the battery energy storage space and the installed capacity keeps growing. However, there is a need for more if the country wants to achieve its Net Zero emission target for the power sector by 2035. We are glad to bring another project to life together with Centrica.”
Brigg battery storage is set to be fully operational in late 2023 with plans to run the site for 25 years. The solution implemented will be a 2-hour duration system with GE’s flexible duration architecture that will allow Centrica to modify the duration of the system in response to future grid needs and market opportunities.
Revenue and profit leap at Yü Group
Bobby Kalar, Chief Executive Officer, said: “We continue to reiterate our promise to keep delivering profitable growth and are confident this is set to continue.
“I’m very pleased to report another set of excellent results reflecting a strong and reliable performance. Remembering this is our fourth consecutive and consistent set of results I’m proud to confirm our key financial KPI’s are performing well and have exceeded our forecasts following two recent upgrades.
“Revenue is up by 96%, cash in hand has increased 37%, average monthly booking have increased by 49% and EBITDA has jumped over 400% compared to H1 2021. Our strategy is working well and our strengthened and highly disciplined business driven by our joined up processes, people and platforms continues to deliver a seamless customer experience.
“Our digital transformation program is on course and several digital projects are now live and embedded into the business. We will see additional benefits of reduced operating costs, better efficiencies and greater predictability as we scale these digital channels.
“While I’m pleased with the recent government Energy Bills Relief Scheme announcement, pledging support for business customers with their increased energy costs, I fear businesses will feel the ongoing pressure of volatile wholesale commodity prices for some time. We will continue to work hard to help our customers manage these difficult market conditions.
“A £300m Mark to Market trading position gives me comfort our hedge book is very strong, in accordance with our hedging policy, and provides significant confidence in forward gross margin.
“The successful launch of Yü Smart is a game changer in terms of value chain ownership. As well as supplying energy to our business customers we have gained certification from the Retail Energy Code (REC) and approval from Elexon and Xoserve to operate as a Meter Equipment Manager (MEM) and Meter Installer (MI) for both gas and electricity customers, creating the opportunity to install and maintain SMETS2 meters. In addition, owning the asset, creating an annuity income, provides an exciting new value pool for the Group to benefit from. I look forward to updating the market as we rapidly scale this capability.
“We performed well in the pandemic; even better in 2021, despite challenges in the market; and we expect even better performance in the remainder of 2022 and beyond. I’m reassured our business continues to prosper and will use its strength and experience as an anchor for any further turbulence. As we continue to enjoy the fruits of our hard work, I look forward to delivering significant shareholder value in the near future.
“Finally, I would like to thank my wonderful team who continue to support the Board’s target to achieve £500m revenue at over 4% EBITDA as soon as possible.“
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Local businesses club together for CAPs charity golf day
Members of the East Midlands business community are coming together for the annual CAPs (construction and property) charity golf day, which is taking place on Thursday 29 September at Springwater Golf Club in Calverton, in support of Our Dementia Choir.
Our Dementia Choir was formed by actress Vicky McClure in 2019, as part of a BBC documentary, as she set out on a journey to discover the true extent of music’s power of combatting dementia – following the death of her grandmother in 2015, who suffered with the condition.
Vicky formed the choir, which is made up of those living with dementia, in her hometown of Nottingham and supports them through singing and musical activities to provide a calm, engaging and friendly space for the community.
She was also previously a patron for CAPs’ chosen charity in 2021, Switch Up, which is run by British boxing coach, Marcellus Baz BEM, and provides mentoring and physical training to engage young people in positive activity. Four of Switch Up’s young people will be volunteering at the charity golf day this year.
Businesses such as Morgan Sindall, Wilmott Dixon and John Pye will be in attendance, with Blueprint Interiors, Jennie Holland PR, Influence Landscape Planning & Design, 200 Degrees Coffee, Pygott and Crone, GT3 Architects, and Hexa Consulting sponsoring the event.
Coastal Distillery, a Lincolnshire-based and family-run business that makes a range of artisan spirits including gins, vodkas and liqueurs, has donated the refreshments at the halfway house. All monies raised from drinks sales will go to the charity.
Following the end of play on the course, Our Dementia Choir will be performing to the players, before the prize presentations.
CAPs, which was founded in 2017 by John Tansur, client services director at Knights, and David Ford, director at Gleeds, has so far raised a total of £30,000 through a number of fundraising events, with further plans to host a black-tie dinner “with a twist” in February and a sports and Ladies Day in June next year.
John Tansur said: “We are really looking forward to the return of another CAPs golf day – this will be our sixth year. When David and I first set up CAPs, we wanted to create an event for the construction and property sector that would be fun and more importantly raise much-needed funds for charities.
“We are confident this year’s event will raise in excess of £7,000 for Our Dementia Choir, which is fantastic. We felt that people are unclear about how they can support those affected by dementia and by raising much needed funds and awareness of the charity via the golf day, this will help to get the message out there.”
David Ford added: “CAPs couldn’t go ahead without everyone getting involved to make it happen and we are incredibly grateful for their generosity. The choir is such a deserving and worthwhile cause, and we are so looking forward to their performance on the day. It will be great to see so many from the construction and property sector socialising and networking!”
Karen Bonser, charity manager of Our Dementia Choir, said: “We are simply over the moon that Our Dementia Choir has been chosen as CAPs’ charity this year. In whatever way, we want to raise the profile of dementia across all communities and show that music can really make a massive difference.
“The funding raised from this event will enable the choir to reach out to many more people living with dementia and their families, as well as ensuring current members get access to this wonderful resource. We need about £40,000 per year to run effectively and professionally with the correct, professional support choir members and their families need, so this funding will go a long way; it will ensure the choir’s sustainability and ability to reach out to more people living with dementia in the Nottingham area.
“We are really looking forward to the day and can guarantee that everyone at CAPs will be touched by the choir’s performance.”
200 Degrees set to open in Derby
East Midlands-based coffee roaster 200 Degrees is opening a coffee shop in Derby within Derbion shopping centre on London Road.
The coffee shop, which will seat over 60 customers, will be located on the ground floor of the centre next to Boots, and will feature 200 Degrees’ classic fireplace with antique armchairs as well as a cosy ‘secret’ seating area.
The new Derby coffee shop is the roaster’s 18th across England and Wales and is the 7th in the East Midlands; with shops in Lincoln, Leicester, Nottingham and at McArthur Glen East Midlands Designer Outlet.
200 Degrees will be serving its handcrafted coffee and food, such as deli-style sandwiches, baguettes, salads, soups, cakes and pastries – including vegan and gluten-free options – which are available to eat in or takeaway.
The coffee shop will bring around 12 new full-time and part-jobs to Derby and the barista team will be serving freshly roasted coffee, from the 200 Degrees roast house in Nottingham, as well as iced tea, smoothies and milkshakes.
Rob Darby, CEO at 200 Degrees, said: “Being East Midlands-based, we have had our sights set on opening a coffee shop in Derby for some time – and it’s fantastic that we have now found the perfect location at Derbion.
“As a prime retail destination in the city, we are looking forward to serving our freshly roasted coffee blends and food to our new customers and being an active member of the centre and wider Derby community.”
Coffee lovers can also purchase freshly roasted beans, coffee machines and home brew equipment in store.
Rob and his business partner, Tom Vincent, founded the company in 2012 in Nottingham, and have expanded the 200 Degrees footprint across England and Wales, now boasting shops in major cities including Manchester, Liverpool, Leeds, York, Birmingham and Cardiff.
The new Derby coffee shop will be open 7.30am – 7.30pm Monday to Friday, 7.30am – 8pm Saturday, and 9.30am – 5.30pm Sunday.