I-SQUARED-CAPITAL
1.10.2020 20:02:13 CEST | Business Wire | Press release
Conrad Energy, a portfolio company of I Squared Capital and an independent power producer focused on flexible power generation, battery storage and energy management services for network and commercial customers, today announces a significant acceleration in its plans to support the UK energy transition. Conrad Energy has agreed to acquire Viridis Power, more than doubling its share of flexible generation for the UK power market, and bringing its operational portfolio to over 440MW at 28 sites across the UK and equivalent to the average hourly electricity needs of one million homes.
The acquisition further strengthens the power generation, trading and operational capabilities of Conrad Energy, which specialises in innovative energy solutions that provide critical grid support. Conrad is already providing commercial customers with solutions for their energy needs, including flexible generators, storage and solar. This support will be critical as the UK integrates more renewable sources into its energy mix and to mitigate the fluctuations in electricity consumption patterns from Covid-19.
Alongside Conrad Energy’s generation capacity, the company is deploying battery technology that can store up to four hours of electricity to supply power during peak demand periods, mitigate grid constraints, and moderate excessive price volatility for consumers. The company is looking at building a total storage portfolio of 200MW.
Established in 2017, Conrad Energy is one of 18 global platforms created by I Squared Capital to meet a pressing demand for infrastructure. Gautam Bhandari, Managing Partner at I Squared Capital, said, “The UK’s energy market is at a pivotal point. Demand and usage patterns are changing and the future of nuclear remains uncertain. Localised, flexible generation will be vital to bridge the gap as the country integrates more renewables into its energy mix. Renewables are here to stay, and we need a cost-effective solution that will smooth the transition. This investment will help ensure the future security and stability of the UK’s national energy supply as the country pursues its net zero ambitions.”
“This acquisition marks a significant step forward in the growth of Conrad Energy and in providing reliable, flexible power to the National Grid. The businesses complement each other well and we look forward to combining the expertise of the teams,” said Damian Darragh, Executive Chairman of Conrad Energy. “We are creating a modern utility company from the ground-up that will drive the clean energy transition by supporting the integration of low carbon energy solutions that are cost-effective for consumers. Localised generation, smart grids and behind the meter solutions are crucial pieces of the puzzle in creating a modern utility.”
About Conrad Energy
Radically transforming the way the energy market works, Conrad Energy is delivering a path toward the future of a flexible low carbon economy.
Supporting a radically changing energy market, Conrad Energy is powering the transition to a flexible low carbon economy.
A full-service independent power producer (IPP), Conrad Energy optimizes energy supply within the market by delivering fast and flexible power generation when needed. Its embedded power plants supply power in local networks and range in size from 2.5 to 40MW. Conrad Energy has a highly skilled team and is a portfolio company of I Squared Capital.
About I Squared Capital
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecom, transport and social infrastructure in the Americas, Europe and Asia. The firm has offices in Hong Kong, London, Miami, New Delhi, New York and Singapore.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201001006000/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NIQ Expands GeoPurchase Audiences Globally, Unlocking Growth Opportunities for Marketers in Poland, Belgium, Mexico, and Indonesia22.6.2026 12:00:00 CEST | Press release
International expansion helps advertisers target audiences based on local consumer demand NIQ (NYSE: NIQ), a leading consumer intelligence company, today announced the expansion of its GeoPurchase audiences into Poland, Belgium, Mexico, and Indonesia, extending its purchase-based, geo-targeted audiences to new international markets. As privacy regulations tighten and identifiers like cookies decline, marketers need new ways to reach high-value consumers at scale. NIQ’s GeoPurchase Audiences address this challenge by helping marketers identify and target consumers based on demand, not just demographics. GeoPurchase audiences help marketers pinpoint geographic areas where consumers are most likely to purchase specific FMCG categories, brands, or sub-brands, so media investments can concentrate where retail opportunities are strongest. By focusing investments in priority locations, marketers can connect with the audiences that matter in the markets with the greatest opportunity. As a resu
Smartly Introduces Smartly Synapse, the Intelligent AI Orchestration Layer Powering Its Advertising Platform22.6.2026 12:00:00 CEST | Press release
Smartly Synapse powers Smartly’s agentic orchestration, providing marketers a faster, more intelligent way to plan, execute, and optimize millions of signals for better results Smartly today introduced Smartly Synapse, the intelligent AI orchestration and memory layer behind every Smartly AI Agent. Built on years of cross-channel creative, media and performance intelligence and continuously shaped by real-world outcomes, Smartly Synapse transforms millions of signals into actions that help marketers plan smarter, execute faster and drive stronger business results. Smartly Synapse creates a continuous performance loop where marketer intent, business context, campaign activity and outcomes continuously inform one another. Its shared intelligence and memory layer helps the system learn from every campaign, improving future recommendations, execution and performance. “Smartly Synapse is the intelligent AI orchestration and memory layer behind our AI agents. It augments Smartly’s existing p
Europe’s Original First Check Investor Seedcamp Raises $320 Million22.6.2026 11:23:00 CEST | Press release
First backer of Revolut, Wise, UiPath, Synthesia and Fluidstack brings nearly two decades of experience and conviction to Europe’s next frontier Expands US team to support founders building global giants from day one Raise is split across a $220m Core fund and $100m Select fund to back winners through Series B and beyond Backing founders at the very beginning - before the company or the theme is obvious Seedcamp, Europe’s original first check investor and earliest backer of companies including Revolut, Wise, UiPath, Synthesia and Fluidstack, has raised $320 million to invest in the next generation of global companies. US expansion for born global founders and early growth capital for portfolio winners Since launching in 2007 with a $2.5m first fund, Seedcamp now manages over $1bn in AUM and has delivered some of the strongest venture fund returns in Europe. Seedcamp Fund III has now returned over 13x DPI to its Limited Partners, and Fund IV sits at over 5x net TVPI. The new capital is
Navan Invests in European Footprint with New Partnerships22.6.2026 10:01:00 CEST | Press release
New integrations with ITA Airways, Caledonian Sleeper, and Virtuo elevate localized inventory across Europe Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced new integrations with European travel suppliers. Navan will add to its platform a direct New Distribution Capability (NDC) connection with Italy’s national air carrier, ITA Airways; overnight rail services in the UK with Caledonian Sleeper; and mobile-first car rental bookings in France with Virtuo. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260622904121/en/ New integrations with ITA Airways, Caledonian Sleeper, and Virtuo elevate localized inventory across Europe “We’re seeing incredible momentum across Europe, bookings to and from the continent are up year-over-year, and to truly serve the European market you have to continually invest locally,” said Michael Riegel, Chief Customer Officer at Navan. “By bringing ITA’s
Finalists Announced for the Second Edition of the Reply AI Music Contest, the International Competition Exploring the Relationship Between AI and Live Performance22.6.2026 10:00:00 CEST | Press release
The jury will announce the winners on Saturday, 4 July, on the stage of Kappa FuturFestival in Turin Music and artificial intelligence come together at the Reply AI Music Contest to explore the relationship between AI and live performance. The competition, created by Reply and organized in collaboration with Kappa FuturFestival — one of Europe’s leading festivals dedicated to electronic music and cultural innovation — announces the five finalists selected by an international jury of professionals from music and creative industries: Agoria, Max Cooper, Fleur Shore, Tini Gessler, Ali Demirel, Albi Scotti, Oliver Bohl and Sarah Grimaldi. The finalists represent a new generation of innovators using AI to explore new forms of integration between sound, visual arts and live performance. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260622111182/en/ Finalists announced for the second edition of the Reply AI Music Contest, the inte
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom