REG - VH Global Energy Inf - Update on Australian Solar PV + BESS programme

VH Global Energy InfrastructureAnnouncement

19/12/2024 07:00

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RNS Number : 6595Q  VH Global Energy Infrastructure PLC  19 December 2024

VH GLOBAL ENERGY INFRASTRUCTURE PLC

 

 

19 December 2024

 

 

Performance update on the Australian Solar PV with Battery Storage Programme

VH Global Energy Infrastructure plc ("the Company") is pleased to provide a
performance update on its three recently commissioned solar and storage hybrid
systems in New South Wales.

Since their commissioning less than a month ago, these assets have achieved
margins up to three times higher than initially budgeted for the same period.
The average captured price in November for one of the Battery Energy Storage
Systems (BESS) in New South Wales was over A$730/MWh, more than three times
higher than the average captured prices for solar without BESS during the same
period.

This performance highlights the value of integrating flexible capacity within
the programme and continues to support our thesis. By optimally shifting power
dispatch to capture high evening power prices, the assets are demonstrating
their ability to respond dynamically to market conditions and take advantage
of higher pricing.

The elevated captured prices were primarily driven by heatwaves and low wind
resources during the period, combined with outages at major coal plants. This
reflects the broader trend of increasing structural energy market volatility
in the region, caused by the rapid penetration of intermittent renewable
energy and the slow deployment of grid-firming technologies. We believe this
trend will continue, as the sensitivity of power prices to fluctuations in
supply and demand under current grid constraints remains a significant factor
shaping Australian market dynamics.

www.globalenergyinfrastructure.co.uk
(http://www.globalenergyinfrastructure.co.uk)

 

 

The Company's LEI is 213800RFHAOF372UU580.

 

 

For further information:

 

Edelman Smithfield (PR Adviser)

Ged Brumby                 + 44 (0)7540 412 301

Hamza Ali                      + 44 (0)7976 308914

 

Victory Hill Capital Partners LLP (Investment Manager)

Navin Chauhan              info@victory-hill.com

 

Deutsche Numis (Corporate Broker)

David Benda                 +44 (0)20 7260 1000

Matt Goss

 

Ocorian Administration (UK) Limited (Company Secretary)

oaukcosecteam@ocorian.com (mailto:oaukcosecteam@ocorian.com)

 

 

 

About Victory Hill Capital Partners LLP

Victory Hill Capital Partners LLP ("Victory Hill") is authorised and regulated
by the Financial Conduct Authority (FRN
961570).

 

Victory Hill is based in London and was founded in May 2020 by an experienced
team of energy financiers that spun-out of a large established global project
finance banking group. The team has participated in more than $200bn in
transaction values across 91 conventional and renewable energy-related
transactions in over 30 jurisdictions worldwide. Victory Hill is the
investment manager of the Company.

 

The Victory Hill team deploys its experience across different financial
disciplines in order to assess investments holistically from multiple points
of view. The firm pursues operational stability and well-designed corporate
governance to generate sustainable positive returns for investors. It focuses
on supporting and accelerating the energy transition and the attainment of the
UN sustainable development goals.

 

Victory Hill is a signatory of the United Nations Principles for Responsible
Investment (UN PRI), the United Nations Global Compact (UN GC), Net Zero Asset
Managers Initiative (NZAMI), a member of the Global Impact Investing Network
(GIIN) and is a formal supporter of the Financial Stability Board's Task Force
on Climate-related Disclosures (TCFD).

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