Vitol’s VPI Enters JV with Lumcloon Energy to Build Reserve Gas Power Plant in Ireland

Source: 7/13/2022, Location: Europe

VPI Holding Ltd (VPI) is to enter into a joint venture with leading Irish flexible generation development company Lumcloon Energy Ltd to build a new 275MW Open Cycle Gas Turbine (OCGT) power plant in County Westmeath, Ireland.

VPI, which is a group entity of global energy trader Vitol, will take a 51 per cent share in the project, which has already successfully bid for 10-year capacity contract through the Commission for Regulation of Utilities T-3 auction.

The new plant will help facilitate Ireland’s energy transition by enhancing security of supply during peak energy demand. It will act as a back up to renewable energy and will operate when wind output is low.

Planning approval has been granted for the power plant, with construction anticipated to start in 2023.

VPI Head of Generation David Brignall said: “VPI is already one of the leading operators of Combined Cycle Gas Turbine (CCGT) assets in the UK, and this joint venture will allow us to bring our expertise and experience to this exciting project.

“The creation of a 275MW OCGT will provide flexibility to meet the demands of Ireland’s consumers and ensure security of supply at times of peak demand.”

Managing Director of Lumcloon Energy, Nigel Reams, said: “Lumcloon Energy is focused on the facilitation of renewable energy onto the Irish grid. This new project will expand our contribution to the transition to a renewable based power system and will enhance security of supply.”

Tullamore-based Lumcloon Energy is an expert in early stage project development, particularly in Ireland where their landmark projects are based. They have experience with the consenting process involved in power projects, namely: planning, grid, and land.

Lumcloon Energy has developed Ireland’s largest portfolio of Battery Energy Storage System which is now operational.

VPI has a fleet of CCGTs in the UK with a total generating capability of 3.3GW and a commitment to spend more than £2bn in supporting energy transition over the next five years. VPI is constructing 350MW of newbuild capacity due to come online from 2024.

The company is also a major partner in the Humber Zero carbon capture project which will reduce the levels of greenhouse gases emitted into the atmosphere from one of the UK’s largest industrial areas.

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