NG 1 Power Ltd (09658553): administration
- Status
- Administration ended
- Administration began
- 2019-07-15
- Administrators
- Daniel Christopher Hurd, Colin Peter Dempster
- Administrators' firm
- Oxford Capital Partners
- Incorporated
- 2015-06-26
- Location
- Birmingham
- Industry
- 35110 Production of electricity
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The principal activity of the Company was the operation and management of a reserve power diesel generator plant to meet the demand of the National Grid and the energy market.
The Company operated from leasehold premises in Redditch, Worcestershire, which housed a 20-Megawatt ("MW’”) diesel power plant consisting of 10 separate containerised diesel generator sets rated at 2 MW each.
The Company generated income through the UK Capacity Market, Firm Frequency Response and generating electricity for the National Grid The Company also had the benefit of a revenue stream via an annual payment known as a “TRIAD payment”, which is a premium that the National Grid pays for generation during the TRIAD periods. TRIAD periods are defined as three half-hours of the highest demand on the electricity transmission system between November and February each year.
Administrators' statement of proposals (2019-09-23) · Companies House register