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Advisory services oversee deal for repurposing of Deeside Power Station

Project summary

  • Deal agreed with Triton Power (‘TP’) on behalf of Flintshire County Council (‘FCC’) for the re-use of the former 500MW Combined Cycle Gas Turbine power station.
  • The site, mothballed for its original purpose in 2018, has now been adapted to provide National Grid ESO with vital system support services.
  • TP, as tenant, will now be providing inertia and reactive power at the site without generating any electricity. This reduces the need for carbon emitting generators and enables more renewables.
  • FCC required support to negotiate, agree and implement a Deed of Variation to the existing 99-year Lease.

Solution

  • We undertook a comprehensive review of the contractual relationship between FCC and TP.
  • The commercial and practical implications for FCC were considered and a full report was provided.
  • We subsequently agreed terms with TP and their agents for a Deed of Variation to the Lease to allow the physical changes on site to be implemented.

Benefits

  • Substantially improved rental terms.
  • The repurposing of the site gives it renewed importance, having been mothballed as a power station in 2018.
  • New employment to the region and delivery of cost savings to energy consumers under National Grid ESO’s stability pathfinder programme.
  • It is believed to be the first conversion of a gas turbine rotor to provide standalone inertia and stability services anywhere in the world.
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