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
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
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).