Baringa Partners are proud to have advised on the recent power offtake agreement reached between Shell Energy Europe and Seabank Power Limited.
Seabank is one of the most reliable and flexible power plants in the UK, enhancing system stability by providing large volumes of electricity that can quickly compensate for dips in solar or wind power supply, or respond to sudden increases in demand.
“We are very pleased to have supported our client Seabank Power in negotiating this important agreement,” Henning Bottger, Partner in the Energy & Resources team at Baringa said. “Seabank will continue to play an important role in helping the system operator balance the intermittent power on the UK power system.”
The selection of SEEL follows an open, competitive procurement process during which Baringa advised the power station owners on selecting a route-to-market provider from a number of Europe’s largest power traders.
Baringa’s role on supporting this agreement has included:
- The design and execution of the evaluation criteria
- Advice on the structuring and valuation of alternative offtake offers received from bidders; and
- Support in the negotiation of the final offtake agreement.
Notes to editors:
About Seabank Power
The 1,140MW Seabank Power Station is a flexible gas-fired plant located in Hallen Marsh, Bristol, UK. The station was built in two modules with 'Seabank 1’ (755MW) opening in 2000 and 'Seabank 2 (385MW) opening in 2001.
About Baringa Partners
Baringa Partners is an independent business and technology consultancy. We help businesses run more effectively, navigate industry shifts and reach new markets. We use our industry insights, ideas and pragmatism to help each client improve their business. Collaboration is central to our strategy and culture ensuring we attract the brightest and the best. And it's why clients love working with us.
Baringa launched in 2000 and now has over 700 members of staff and more than 65 partners across our practice areas Energy and Resources, Financial Services, Products and Services, and Government and Public Sector. These practices are supported by cross-sector teams focused on Customer & Digital; Finance, Risk & Compliance; People Excellence; Supply Chain & Procurement; Data, Analytics & AI; Intelligent Automation & Operations Excellence; and Technology Transformation. We operate globally and have offices in the UK, Europe, Australia, US and Asia.
Baringa Partners have been voted as the leading management consulting firm in the Financial Times' UK Leading Management Consultants 2021 in the categories Energy, Utilities & the Environment, and Oil & Gas. We have been in the Top 10 for the last 13 years in the small, medium, as well as large category in the UK Best Workplaces™ list by Great Place to Work®. We are a Top 50 for Women employer, and are recognised by Best Employers for Race.
Baringa. Brighter Together.