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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Centrica plc    CNA   GB00B033F229

CENTRICA PLC

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Centrica : 20 Aug 2020 Centrica and NEC announce energy service partnership Company

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08/20/2020 | 04:16am EDT
20 August 2020 Centrica and NEC announce energy service partnership

'The nature of a venue such as the NEC is that its electricity use is incredibly varied, with large shows creating a high demand for power, while the periods between the shows have limited demand. By transitioning to decentralised power the venue is now able to generate additional revenue by selling this additional capacity to the grid.'

Alan Barlow, Director of UK & Ireland, Centrica Business Solutions

Work is underway on a major energy project at the NEC, Birmingham, which will see the UK's leading events venue generate its power needs onsite.

Centrica Business Solutions will provide heat and power to the NEC site through the design, installation, operation and maintenance of three gas generators, including an 850 kWe Combined Heat and Power unit (CHP).

It's the first deal of its type for Centrica Business Solutions, which will finance the delivery of the project - repaid from the energy savings made over the asset life. British Gas Business will supply the top up electricity for the site.

The deal will see the NEC reduce its energy costs and improve energy resilience on site, as a result of being less reliant on grid power. It will also future proof the site to take advantage of Demand Side Response activity including operating on the capacity market.

'The partnership with Centrica Business Solutions will deliver significant energy savings to the NEC. Sustainability is still a primary business focus for the NEC Group and this project will significantly enhance our sustainable working and environmental impact.'

Ian Taylor, Acting Managing Director of Conventions & Exhibitions, NEC

Centrica Business Solutions' Energy as a Service (EaaS) bundle includes design, installation and financing of electricity supply, monitoring of energy usage and energy optimisation.

Alan Barlow added: 'Our research found that over a third of businesses rank energy security and resilience as an organisational risk. We're aiming to provide peace of mind to our customers helping them with investment in energy solutions, improve their energy security and provide energy costs savings. This also helps our customers transition to a sustainable future without needing to find significant capital.'

The construction and commissioning of the NEC project is expected to take around 12 months.

  • Michael Pullan, Senior Communications Manager, Centrica

    T: +44 (0)7557 619446

    E: Michael.Pullan@centrica.com

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Disclaimer

Centrica plc published this content on 20 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2020 07:16:08 UTC


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