Dukemount Capital PLC - London-based property developer - Agrees to outlined terms for a joint venture in the flexibility power sector. Says once due diligence and definitive agreements have been completed, Dukemount will own 50% of the joint venture vehicle, HSKB Ltd. The joint venture will develop two 11 kilovolt gas peaking facilities which together will produce around 10 megawatts of power for a total cost of around GBP6.25 million. HSKB is currently owned by Matthew Clare, who also acts as the business director. Says Dukemount will manage the construction of the two sites and "provide its knowledge of long-dated income funding and financing", while HSKB will bring its "technical, operational and market expertise of the UK flexibility power market as well as access to a pipeline of further deals and will provide yield management of each site".
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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Dukemount Capi. (DKE)