First Hydro Company
First Hydro Company operates pumped hydro storage facilities at Dinorwig and Ffestiniog in North Wales, providing 2.1 GW (76% of UK capacity), including Europe's largest at Dinorwig, serving the UK National Grid for grid stability and renewable integration.
- Company typePrivate
- Founded2009
- HeadquartersCaernarfon, United Kingdom
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What First Hydro Company does
First Hydro Company is a UK-based electricity generating company that owns and operates critical pumped hydro storage infrastructure at Dinorwig and Ffestiniog in North Wales. The company manages 2.1 GW of total installed pumped storage hydropower capacity, representing approximately 76% of the UK's pumped hydro storage capacity. Its asset base includes Europe's largest pumped storage hydropower plant at Dinorwig.
The company serves the UK National Grid, providing grid stability services and supporting the integration of intermittent renewable energy sources. Its pumped hydro storage technology allows it to function as a large-scale, flexible energy storage asset — absorbing excess electricity during periods of low demand and releasing it during peak demand or when renewable generation drops. ENGIE UK operates the facility under a long-term operational arrangement and is committing up to £1 billion across a 10-year refurbishment ("replanting") program covering both North Wales assets, signaling sustained reinvestment to extend asset life and preserve capacity.
First Hydro Company is a privately held infrastructure asset. Brookfield Asset Management historically held a 25% stake; in September 2024, CDPQ (Caisse de dépôt et placement du Québec) acquired a 25% interest from Brookfield, with Brookfield retaining a 25% stake. No revenue figures are publicly disclosed, and the company is described as a critical national infrastructure asset operating through institutional and government energy channels rather than conventional commercial marketing.
First Hydro Company firmographics
Firmographics- Name
- First Hydro Company
- Legal name
- First Hydro Company
- Website
- https://fhc.co.uk
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- First Hydro Company operates pumped hydro storage facilities at Dinorwig and Ffestiniog in North Wales, providing 2.1 GW (76% of UK capacity), including Europe's largest at Dinorwig, serving the UK National Grid for grid stability and renewable integration.
- Ownership category
- akta.pro rank
First Hydro Company industry classification
Industry- Product category
- Pumped Hydro Storage
- NAICS
- Hydroelectric Power Generation (221111), Electric Power Generation (22111)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Pumped-Storage Hydroelectric Generation (EUACAEAC)
- akta.pro secondary industries
- Hydro & Geothermal Reservoir/Wellfield Operations (Waterways, Dams, Wells, Brine Handling) (EUAMAGAI), Hydropower Grid Services & Dispatch Optimization (Ancillary Services, Scheduling) (EUAMADAH)
Keywords
Where First Hydro Company is headquartered
LocationHeadquarters
- HQ city
- Caernarfon
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
First Hydro Company business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain
Distribution channels1 record
First Hydro Company product offering
Product offeringCore offering
First Hydro Company operates and manages pumped-storage hydropower plants at Dinorwig and Ffestiniog in North Wales, supplying large-scale electricity generation, storage, and grid balancing services to the UK electricity market. Its stations provide fast-response generation and storage capacity that supports National Grid in stabilizing frequency and integrating renewable energy sources.
Differentiator
Problem solved
Functional benefit
Products and services
- Dinorwig Power Station
Companies that use First Hydro Company
Customer profileSegments1 record
Ideal customer profiles1 record
First Hydro Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
First Hydro Company partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ENGIE UKcoreENGIE UK is operating and investing up to £1 billion in a major 10-year replanting of First Hydro Company's two pumped storage assets in North Wales. This includes Europe's largest pumped storage hydropower plant at Dinorwig.
Scale indicators3 records
Recent moves3 records
Expansion highlights3 records
First Hydro Company competitors and assessment
Company assessmentBroad incumbents
- Iberdrola: Iberdrola operates one of Europe's largest pumped storage and hydro portfolios (e.g., Spain, UK via Scottish Power). It is a relevant peer through ScottishPower Renewables' UK hydro and storage business targeting the same National Grid flexibility markets.
- Statkraft: Statkraft is Europe's largest renewable energy generator and a leading operator of pumped storage and large hydro assets across Norway and Europe, directly comparable on technology, asset class, and grid services business model.
- EDF Energy: EDF Energy operates nuclear, renewables and flexibility assets in the UK and is a major investor in pumped hydro projects (e.g., potential Scottish sites). It competes with First Hydro for UK grid flexibility and capacity market revenues.
- ENGIE: ENGIE is the parent operator of First Hydro via ENGIE UK and is itself one of Europe's largest pumped storage operators (e.g., Grand'Maison in France). Its UK subsidiary operates First Hydro's assets under a long-term arrangement, making it directly comparable on operating model and asset class.
- Vattenfall: Vattenfall is a Swedish state-owned utility that operates pumped storage hydro assets in Sweden, providing grid balancing and flexibility services comparable to First Hydro's role in the UK.
Direct peers
- SSE plc: SSE is a UK-listed utility with significant hydroelectric generation assets (including large-scale pumped storage at Foyers/Coire Glas) and is a direct peer in UK grid-scale hydro storage and flexibility services competing for similar National Grid contracts.
Regional players
- Verbund: Verbund is Austria's leading hydropower operator with extensive pumped storage capacity across the Alps, comparable to First Hydro as a hydro-dominated utility monetising dispatchable storage and ancillary services in European markets.
- Drax Group: Drax is a major UK-based power generator focused on biomass with growing exposure to pumped hydro and battery storage (Cruachan). It is comparable as a UK power and flexibility services provider serving the same National Grid off-taker.
- BKW Energie: BKW Energie is a Swiss integrated energy company with a portfolio of pumped storage and hydropower assets, providing grid services in Central Europe. Comparable on technology stack (turbines, generators, dispatchable storage) and ancillary services revenue model.
- Alpiq: Alpiq is a Swiss electricity producer and trader with substantial pumped storage and run-of-river hydro capacity in the Alps, monetising flexibility and balancing services in Central European markets comparable to First Hydro's business model.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
First Hydro Company social profiles
Digital presenceFirst Hydro Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Hydro Company leadership team
Management profileNumber of profiles
First Hydro Company funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Hydro Company M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Hydro Company
What does First Hydro Company do?
First Hydro Company operates and manages pumped-storage hydropower plants at Dinorwig and Ffestiniog in North Wales, supplying large-scale electricity generation, storage, and grid balancing services to the UK electricity market. Its stations provide fast-response generation and storage capacity that supports National Grid in stabilizing frequency and integrating renewable energy sources.
Is First Hydro Company a public or private company?
First Hydro Company is a private company. It is classified as private equity controlled and is currently operating.
When was First Hydro Company founded?
First Hydro Company was founded in 2009. It employs 5,001 to 10,000 people.
Where is First Hydro Company based?
First Hydro Company is headquartered in Caernarfon, United Kingdom, in the Europe region.
Who are First Hydro Company's main competitors?
Broad incumbents on record are Iberdrola, Statkraft, EDF Energy, ENGIE and Vattenfall. SSE plc is listed as a direct peer. Regional players are Verbund, Drax Group, BKW Energie and Alpiq.
Does First Hydro Company have an API?
No public API is recorded for First Hydro Company.
What industry is First Hydro Company in?
First Hydro Company's product category is Pumped Hydro Storage. Its primary akta.pro industry code is EUACAEAC, Pumped-Storage Hydroelectric Generation, with a secondary code of EUAMAGAI, Hydro & Geothermal Reservoir/Wellfield Operations (Waterways, Dams, Wells, Brine Handling). Its NAICS code is 221111 and its SIC code is 4911.