Progress Power, a British power plant developer, has proposed to build a 299MW gas-fired power plant valued at £200 million for the Eye Airfield in Suffolk. Development of the project, however, hinges on forthcoming legislation on capacity remuneration mechanisms in the UK.
"In order to get project financing we need long-term revenue certainty by successfully participating in the capacity mechanism auction," said Chris McKerrow, project manager for Progress Power on the Suffolk project.
|Full content is available only to subscribers
please log in below or subscribe now
Or request to register for a free 14 day trial here