Green Frog Power secures £49.5m Lloyds backing

Green Frog Power Ltd already builds and operates power stations across the UK, providing standby power capacity to National Grid for times of excess demand.

Now, as part of its national strategy focused on developing new, flexible capacity, the organisation is building nine new gas-fuelled power stations across the country.

The bank has provided corporate asset finance and a VAT facility for the construction of the new gas-fired power stations, and work is now complete at the first site at Bridgwater.

Green Frog director, Jeremy Taylor, said: "When there is a tightness of supply because another station has failed or the wind is still, we step in to meet demand.

"It was encouraging to hear Amber Rudd, secretary of state for energy and climate change, this week back the development of flexible gas-powered stations such as ours to deliver energy for the UK when it needs it most.

"The funding from Lloyds Bank has been instrumental in the construction of these new, gas-fired stations."

Coleshill-based Green Frog has 60 employees, whilst the subcontractors it employs across the UK expand its workforce to around 300.

It has a pipeline of 500MW of new gas-fired power stations in development, in parallel with the current 178MW in construction.

Published: 20 November 2015

Article by Bryce Wilcock
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