WELSH POWER GROUP (Cardiff)

48. WELSH POWER GROUP (Cardiff)

Power plant developer and operator | Established in 2004

Welsh Power is a leading developer and operator of gas fired reserve and peak power plant. With 400MWs of small scale generation in operation or under construction, it plays an important role in balancing the UK electricity network which is increasingly reliant on renewable but intermittent energy sources. Working closely with its partners, Welsh Power is providing a clean, flexible, efficient distributed power solution to support the UK’s transition to a low carbon sustainable energy system.

84.9% growth between 2014 and 2016

Origins

Formed in 2004 and with its headquarters in Cardiff, Welsh Power is a private company with a unique entrepreneurial track record in the UK Energy Sector. From development, construction and operation of power plant to electricity trading and supply, it is the depth of experience that ensures it delivers for all stakeholders. In 2011, the management bought out previous financial investors and effectively started again. The motivation was to create value from the founders’ experience and to control theirt own destiny.

Our main challenges when starting the business

The major challenges have been raising finance, managing constant changes in regulation and recruiting suitably qualified staff.

Success Factor

The three main factors that have contributed to the rapid growth of the business are experienced key staff, supportive financial partner, and the ability to react quickly to market changes.

The Future

The plans for growing the business over the next five years include increasing generation under management from 400MWs to 1000 MWs, including gas and battery storage; growing support service capability to include power trading capability; and relocation to new city centre headquarters in early 2018 and doubling of current workforce to manage company’s ambitious growth plans.