Demand side management specialist sold in £15.4m deal

Demand side management specialist Flexitricity has been sold in a deal worth £15.4m. Switzerland-based parent company, Alpiq Digital has signed a share sales agreement with Reserve Power Holdings, which is owned by investment manager Quinbrook, for the sale of the company.

Edinburgh-based Flexitricity partners with businesses throughout Great Britain to provide reserve electricity to the National Grid.It became the first virtual lead party to trade in the UK’s balancing mechanism after it was opened up to allow independent aggregators to take part. It also operates a virtual power plant that reached 500MW capacity in June.

Alpiq stated that regularly reviews its portfolio of subsidiaries and products as part of its reviews of the composition of its business activities and, as a result, makes selective investments or divestments. Following its strategic and geographical focus, Alpiq is withdrawing from the UK market for demand response management.

Alpiq will concentrate on power production in Europe. Its domestic portfolio comprises hydropower and nuclear energy, and its international power production includes renewable energy plants and flexible gas-fired combined-cycle power plants. Alpiq’s core business also covers power plant management and selling the energy generated in its own plants and in third-party plants, direct marketing for business customers, and international energy trading.

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