VPI ENERGY

What VPI ENERGY does

VPI Energy is a privately held European power company that develops, owns, and operates thermal power generation, battery energy storage, and carbon capture infrastructure to supply dispatchable, low-carbon electricity to national grid operators. The company serves National Grid (UK), EirGrid (Ireland), and adjacent industrial customers including oil refineries, with 3.5GW of operational capacity across 8 sites in the UK, Ireland, and Germany. Its assets include combined cycle gas turbine (CCGT) and open cycle gas turbine (OCGT) plants, reciprocating engines, battery energy storage systems (BESS) using lithium iron phosphate chemistry, and a post-combustion carbon capture retrofit at Immingham using Shell's patented Cansolv amine absorption technology.

VPI generates revenue through electricity generation sales, long-term capacity market contracts secured through UK T-4/T-3 and Irish auctions (underwriting over 50% of asset acquisition prices), ancillary grid services (balancing, frequency response, flexibility), battery storage trading and arbitrage, and combined heat and power steam supply to adjacent refineries. The company is wholly owned by the Vitol Group, a global energy and commodities trader that established VPI in 2013 by acquiring the Immingham CHP plant from Phillips 66 and has since funded a £500 million Immingham investment plan, a 1GW+ German battery storage pipeline, and the Humber Zero carbon capture project targeting 3.3 million tonnes of CO2 capture annually by 2029.

VPI's go-to-market is enterprise field sales to national grid operators and selected industrial customers. Growth is executed through strategic project development, joint ventures for new geographic markets (Quantitas Energy and Noveria Energy in Germany, Lumcloon Energy in Ireland, Air Products and Uniper for hydrogen and CCS), and acquisitions of power generation assets (four CCGT plants acquired in 2020, majority stakes in the Lumcloon and Shannonbridge battery sites in 2023).

Name

VPI ENERGY

Legal name

VPI Holding Ltd

Website

https://vpi.energy

Company type

Private

Founded year

2013

Operating status

Operating

Short description

VPI Energy is a private European power company operating 3.5GW of thermal generation, battery storage, and carbon capture assets across the UK, Ireland, and Germany. It sells dispatchable electricity, capacity contracts, and grid services to national grid operators and adjacent industrial customers.

Ownership category

akta.pro rank

Product category

Flexible Power Generation and Storage

NAICS

Electric Power Generation (22111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Utility-Scale VPPs & Grid Services Aggregation (Capacity, Frequency, Reserves) (EUAFAHAD)

Keywords

• Flexible power generation
• Thermal power generation
• Battery energy storage
• Carbon capture storage
• Grid flexibility services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Generation and Sales: VPI generates electricity from thermal power plants (CCGT, OCGT, reciprocating engines) and sells power to national grid operators under long-term contracts and merchant arrangements.
2. Capacity Market Contracts: VPI participates in Capacity Market auctions (UK T-4, T-3; Ireland) to secure long-term contracts providing guaranteed capacity to the grid. Over 50% of acquisition purchase prices are underwritten via awarded capacity market contracts.
3. Grid Flexibility Services: VPI provides grid balancing, frequency response, and flexibility services to National Grid and EirGrid through rapid-response generation and battery storage assets.
4. Battery Energy Storage Trading: Battery storage assets generate revenue through energy trading, Arbitrage (buying low, selling high), and providing ancillary services to grid operators.
5. Steam and Heat Supply: Combined heat and power (CHP) plant at Immingham supplies steam to adjacent refineries in addition to electricity generation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

VPI develops, owns, and operates a portfolio of thermal power generation assets (combined cycle gas turbines, open cycle gas turbines, and reciprocating engines), utility-scale battery energy storage systems (BESS), and carbon capture projects. The company sells electricity, capacity, and grid balancing services to national transmission system operators and supplies steam and electricity to adjacent industrial customers across the UK, Ireland, and Germany.

Product overview

VPI ENERGY operates as a leading power company providing flexible and reliable power generation and storage solutions across the UK, Ireland, and Germany. The company's portfolio consists of multiple power generation sites (thermal CCGT and OCGT plants) and battery energy storage facilities, unified under VPI's energy intelligence approach combining trading and engineering expertise. Key sites include Immingham (1,290MW CHP), Damhead Creek (812MW), Rye House (715MW), Shoreham (460MW), Blackburn (60MW), and battery storage at Lumcloon and Shannonbridge (100MW each) in Ireland. New developments include the 299MW VPI B and 50MW Energy Park A at Immingham, Humber Zero carbon capture project, and a 1GW+ battery storage pipeline in Germany. The company is backed by Vitol and delivers decarbonised, dispatchable, and flexible power generation.

Differentiator

Problem solved

Functional benefit

Products and services

• Blackburn CCGT Plant 60MW combined cycle gas turbine (CCGT) plant in Lancashire, UK, providing flexible power to northwest England's manufacturing area; operational since 2001.
• Damhead Creek CCGT Plant 812MW combined cycle gas turbine power plant in Kent, UK, delivering flexible power to homes and businesses; operational since 2001 with major upgrade underway.
• Rye House CCGT Plant 715MW combined cycle gas turbine power plant in Hertfordshire, UK, delivering flexible power and key ancillary services to the network operator; commissioned 1993.
• Shoreham CCGT Plant 460MW combined cycle gas turbine plant in East Sussex, UK, described as one of the most efficient power stations of its kind in the UK; commissioned 2000.
• Immingham CHP Plant 1,290MW combined heat and power (CHP) plant, one of the largest in Europe, providing electricity and steam to adjacent refineries in the Humber region; powers over one million homes.
• Energy Park A (Reciprocating Engines) 50MW fast-start gas reciprocating peak facility providing flexible grid support at the Immingham site; designed to be hydrogen-ready for future fuel switching.
• VPI B OCGT Plant 299MW open cycle gas turbine (OCGT) plant at Immingham providing additional low-carbon flexible generation capacity; designed hydrogen-ready.
• Castlelost OCGT Plant 275MW open cycle gas turbine plant in County Westmeath, Ireland, providing flexible generation capacity during periods of peak demand and complementing renewable generation; expected commercial operation in 2025.
• Lumcloon Battery Storage 100MW/60MWh battery energy storage plant in County Offaly, Ireland, supporting grid stability and enabling increased renewables in the energy system; commissioned 2021.
• Shannonbridge Battery Storage 100MW battery energy storage plant in Ireland supporting local grid stability as renewables expand; commissioned 2021.
• Humber Zero Carbon Capture Project Carbon capture retrofit project at Immingham power station targeting 95% CO2 reduction and capturing up to 3.3 million tonnes of CO2 per year, using Shell's patented Cansolv amine absorption system; operational by 2029.
• Germany Battery Storage Pipeline 1GW+ pipeline of battery energy storage projects across Germany, including sites in Mecklenburg-Vorpommern, Brandenburg, Hessen, and Baden-Württemberg, using Lithium Iron Phosphate (LFP) battery technology.

Quantifiable outcome

• Powering over 1 million homes from Immingham alone
• +4 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• Wood GroupminorImplementation/ SI/ Consulting Partner · 19 June 2026Owner's Engineer for VPI's 144MWh Pasewalk battery project in Germany.
• Noveria EnergycoreStrategic or Co-development Partner · 29 September 2025Joint venture to develop 700MW of utility-scale battery storage in Germany through five battery projects in Baden-Württemberg and Brandenburg states. Noveria is a Germany-headquartered project developer backed by Bluestar Energy Capital, with 2GW pipeline across 9 German states. VPI will develop, build, operate, and trade these assets.
• Phillips 66 LimitedcoreStrategic or Co-development Partner · 26 September 2025Humber Zero project partnership between Phillips 66 Humber Refinery and VPI Immingham. Phillips 66's Humber Refinery will connect to the Viking CCS transport and storage network. Together the anchor emitter projects aim to capture up to 8 million tonnes annually of CO2 at the Immingham industrial site.
• UnipercoreStrategic or Co-development Partner · 26 September 2025Partner in Humber Zero carbon capture project alongside Phillips 66 and VPI. Uniper contributes expertise in hydrogen production and is developing the H3 hydrogen hub project at Immingham.
• Quantitas EnergycoreStrategic or Co-development Partner · 12 September 2024Joint venture with battery project developer Quantitas Energy to deliver 500MW/1GWh of battery energy storage solutions (BESS) in Germany. Quantitas brings project pipeline and deep relationships with German stakeholders including landowners, municipalities, and distribution system operators. Initial target to become one of Germany's leading developers and operators of utility-scale batteries.
• WorleycoreImplementation/ SI/ Consulting Partner · 25 July 2024Global professional services company engaged for front-end engineering design (FEED) and awarded EPC development phase for VPI's carbon capture project at Immingham. Worley provides CCUS and project delivery expertise.
• Viking CCScoreStrategic or Co-development Partner · 1 August 2023VPI Immingham is one of two anchor emitter projects for the Viking CCS transport and storage network. Viking CCS has been awarded Track 2 status by UK government. Network aims to store 10Mt of CO2 per year by 2030, expanding to 15Mt by 2035. VPI's Humber Zero project will connect to this pipeline.
• Lumcloon EnergycoreStrategic or Co-development Partner · 23 May 2023VPI acquired majority stake (majority shareholder) in 200MW/120MWh of battery energy storage across Lumcloon and Shannonbridge sites in Ireland. Lumcloon developed the projects in 2021. VPI increased investment with approval from competition authorities. Partnership includes plans to develop further renewable generation opportunities at both sites.
• Lumcloon EnergycoreStrategic or Co-development Partner · 13 July 2022Joint venture (51% VPI, 49% Lumcloon) to build 275MW open cycle gas turbine plant in County Westmeath, Ireland. Project secured 10-year capacity contract through CRU T-3 auction. Lumcloon brings expertise in flexible generation development and consenting processes in Ireland.
• Air ProductscoreStrategic or Co-development Partner · 6 July 2022Joint development agreement for Humber Hydrogen Hub (H3) - an 800MW low-carbon hydrogen production facility at Immingham. Air Products is the world's largest hydrogen producer. Project aims to capture 2 million tonnes of CO2 per annum and contribute to Net Zero in Humber by 2040.
• Low CarbonminorStrategic or Co-development Partner · 13 February 2017Joint venture partner in VLC Energy to fund early stage energy storage and renewable energy projects in the UK. Low Carbon is a renewable energy investment company.

Scale indicators12 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• ESB: Irish state-owned vertically integrated utility operating generation and networks across Ireland. Directly comparable as VPI's other key Irish counterparty and competitor in the Irish Capacity Market and battery storage space.
• Drax Group: UK-based independent power producer with large-scale thermal and biomass generation assets. Directly comparable to VPI as a UK IPP operating dispatchable generation sold into Capacity Market and wholesale markets, with similar exposure to decarbonization policy.
• Uniper: Major European gas-fired power generator headquartered in Germany with hydrogen development at Immingham (H3 hub). Closely comparable business mix — thermal generation, hydrogen, CCS — and also an existing VPI partner in Humber Zero.
• SSE plc: UK-listed utility with large flexible thermal and pumped-hydro generation, plus renewables and grid-scale battery storage development. Operates across UK and Ireland markets where VPI is active, with comparable Capacity Market exposure.
• Energetický a průmyslový holding (EPH): European IPP operating large gas-fired and CCGT fleets across UK, Ireland, Germany, Italy, and Slovakia. Highly comparable diversified European thermal-generation platform pursuing similar decarbonization pathways via hydrogen and CCS.
• RWE: One of Europe's largest IPPs with significant gas-fired generation in Germany, Netherlands, and the UK. Comparable mix of dispatchable thermal, growing battery storage portfolio, and European hydrogen ambitions under Energiewende.

Broad incumbents

• Centrica: UK integrated energy company with power generation, trading, and retail activities. VPI's current CEO Jorge Pikunic previously led Centrica Business Solutions, and Centrica operates comparable gas-fired and battery assets in adjacent European markets.
• Engie: French-headquartered global utility with extensive European gas, renewables, battery storage, and hydrogen development. Comparable in scale, geographic diversification across Europe, and transition pathway focus.
• EDF: Major European utility with generation across UK, France, and other markets. Comparable incumbent utility profile, although EDF's portfolio skews nuclear and renewables versus VPI's gas-anchored model.

Regional players

• EnBW: German state-owned utility with growing renewables and flexible gas generation. Comparable as VPI's German market context — EnBW is a regional incumbent competitor in the same German battery storage and capacity markets where VPI is expanding.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vpi-power

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VPI ENERGY