Frontier Economics is pleased to have supported CDPQ in conducting commercial and regulatory due diligence of First Hydro’s pumped storage assets.

CDPQ, a global investment group, announced on 24 September 2024 that it had entered into an agreement to acquire a 25% stake in First Hydro Company, also known as First Hydro.

Responsible for the management and operation of two pumped hydro storage plants at Dinorwig and Ffestiniog in the Snowdonia region of Wales, representing 76% of total pumped hydro storage in the United Kingdom, First Hydro assets provide critical infrastructure to support the country's increasing needs of grid flexibility and stability.

Working alongside the energy market modelling team at LCP Delta, we assisted CDPQ with the commercial assessment of revenue streams First Hydro assets can earn in the electricity wholesale, capacity and ancillary services markets across a number of plausible pathways towards a net-zero electricity system. 
 
Combining Frontier’s market-leading experience of energy economics with LCP Delta’s recognised capability to model the GB market, we offer a long track record of helping undertake commercial and economic evaluation of conventional and renewable generation, and a range of different energy storage technologies

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