SP Energy Networks awarded £15.6m funding from Ofgem
SP Energy Networks has recently been awarded £15.6m of additional funding from Ofgem to take forward a globally innovative project that will help address some of the current and future challenges associated with security and stability of the transmission system.
The funding was awarded as part of the 2016 Network Innovation Competition (NIC). This award will allow us to develop and demonstrate the deployment of a new technology - "hybrid synchronous compensator" or H-SC. This technology will allow greater use of renewable power from windfarms, solar arrays and batteries whilst maintaining security and stability of supply against a background of recent and planned closures of conventional generation plants.
The NIC is the RIIO mechanism for funding flagship innovation projects. It is a challenging process that involves a detailed written submission and two interviews with an industry expert panel, appointed by Ofgem. Our submission was led by Priyanka Mohapatra from the Future Networks team with excellent support from the Network Planning & Regulation and SP Transmission teams. The external panel were very complimentary about the strong case that was submitted to support the proposal and the professional nature of the presentation. The SP Energy Networks award represents close to 50% of the total amount awarded by Ofgem in the 2016 NIC.
Colin Taylor, Director of Engineering Services for SP Energy Networks, said: “I am delighted that we have once again been successful in the Network Innovation Competition. The scale of the award, on top of our successes in previous years, demonstrates our ambition and capability to lead on both technical and commercial innovation in the best interests of our customers and stakeholders. Congratulations to all involved.”
Source: Company Press Release