London, 2 July 2018 – Leep Utilities, the independent multi-utility operator, today announces that it has secured the contract for the ownership, maintenance and stewardship of the last-mile network delivering electricity to Canary Wharf Group’s new district, Wood Wharf.
Leep Utilities is a joint-venture between Ancala Partners LLP (“Ancala”), the mid-market infrastructure investment manager, and the Peel Group, one of the UK’s leading private real estate investment and infrastructure companies. Winning the right to ‘adopt’ the last-mile network at Wood Wharf is the most significant contract for the joint venture since it was announced in May last year.
Canary Wharf’s new district,Wood Wharf is a new mixed-use waterside community comprising more than 3,300 homes and nearly 2 million square feet of shops, restaurants and community facilities. The Wood Wharf development will substantially broaden the Canary Wharf estate by 23 acres
Energisation of the new network is due to start this summer with the provision of power to 10 Park Drive and 10 George Street.
The addition of Canary Wharf’s new development strengthens Leep’s existing adopted network portfolio, which includes MediaCityUK, the technology and media hub home to the BBC & ITV in Manchester, and Princes Dock, a vibrant neighbourhood and integral part of the Liverpool Waterfront.
As an independent distribution network operator (IDNO), Leep can offer a flexible and commercially advantageous alternative to the incumbent DNOs in the adoption of electricity networks on new and existing developments. Under its regulatory licence, Leep can adopt electricity networks that have been constructed by National Electricity Registration Scheme-accredited independent connection providers (ICPs) in return for a financial contribution. This cannot be offered by an incumbent DNO.
Louise Manfredi, Managing Director, Leep Utilities, commented:
“Being a true asset owner Leep can work directly with either the developer and/or ICPs. In the case of the developer, we can provide transparency on the financial contributions available in return for adopting the assets and we can work with a developer appointed ICP for the design and build of the network or if required, we can recommend an ICP. Alternatively, we can be appointed directly via the ICP. In both circumstances, we will bring a fresh approach to the market, with our flexible and forward-thinking service.”
Spence Clunie, Managing Partner at Ancala Partners, commented:
“The Canary Wharf Group win crowns a highly successful first year for Leep Utilities. The JV is quickly establishing a significant position in the independent connections market across electricity, water and district heating.”
David Glover, Operations Director at the Peel Group and Chairman of Leep added:
“The success of our bid with Canary Wharf Group is very pleasing and highlights the strengths of the Leep team and its ability to deliver on the largest of projects. We look forward to working with Canary Wharf on this and future projects.”
In addition to its existing IDNO license, Leep is due to obtain an Independent Gas Transporter (IGT) license by the end of 2018, which will allow it to adopt gas networks.
Leep also owns and operates water insets and heat networks and can adopt new and existing networks in these areas. This breadth of expertise allows it to offer a multi-utility service, providing ‘straightforward connections’ throughout the UK.
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