Bringing balance to BritainFlexibility is paramount when it comes to addressing Great Britain’s decarbonisation agenda. Renewable energy sources like solar and wind may be the way forward in terms of decarbonisation, but the intermittent nature of renewables can lead to imbalance in the electricity grid. Alongside this level of variability, the decommissioning of many of the UK’s coal and nuclear-fuelled plants further compromises the stability of the grid.
Peaking power plants, or peaker plants, are playing a major role in the Capacity Market by bringing balance to the electricity grid. There has been rapid growth in the number of peaker plants in recent years as investors recognise the value of being able to deliver super-flexible generation during times of peak demand for electricity. High efficiency, rapid start times, and low switch-on price are providing to be an attractive prospect for investors in the Capacity Market.
Invest in the best - Download the Aurora Report on the peakers market and engine efficiency
Siemens is leader in the engine market for peakers that deliver best-in-class electrical efficiency at 2 megawatts electric (MWe). Our state-of-the-art engines are the most efficient on the market, more efficient than any other gas reciprocating engine in the UK market. They are also expected to run more than 2,000 hours per year in the 2020’s – meaning more profit.
The high efficiency of a Siemens gas reciprocating engine allows a peaking plant to run more hours profitably with lower fuel and carbon costs than equivalent engines. Once more our 1, 1.25 and 2MW engines have fast start capability.
Aurora Energy Research recently conducted research into the value of Siemens engines in peaker plants. Their whitepaper describes the efficiency, profitability and longevity of a Siemens engine as an investment.
Scaling up with Siemens
Siemens’ team of experts prides itself on working closely with customers to establish the best investment for them from the different models we offer. As market leader, we have the capacity to offer an unparalleled flexibility in scope from a single, bare engine through to plug and play containerised solutions that are based on our robust and reliable S, H and E series of engines and include Siemens high-tech transformers, switchgear and controllers.
Financial support where it’s needed
Siemens offers its customers flexible financial solutions through Siemens Financial Services (SFS). SFS have a team of asset and cash flow finance experts who are aligned to support our projects and find the best financial solutions for our customers.
SFS offers creative financial solutions which include usage or outcome-based payments, project and cashflow financing. SFS also offer management of financed assets to all Siemens customers.
Many commercial funders see risk in lending on large energy projects but SFS fully understands our business, projects, products and technology and the way Siemens works. Finance from SFS also means our customers are not tying up valuable cashflow or credit facilities with a third party funder or regular bank which can benefit business growth and investment.
One-stop, end-to-end solution from the maker of the most efficient engine on the market
Apart from super-efficient, market-leading engine design and technology, Siemens believes in bringing added value to our customers through the excellent end-to-end delivery of their projects.
We work with our customers to establish their priorities and requirements to make sure that we deliver the best-fit technical solutions against their scope. It’s important to us to advise our customers about the best lifecycle revenue achievable and present cost-saving opportunities throughout all stages of our relationship with them.
In addition to guaranteeing the high-efficiency technical performance of our engines we also offer after-sales support and analytics to make certain there is continuous improvement and optimised asset performance.
Invest in the best. Invest in Siemens.