Member Article

Alkane Energy posts 44% profit increase

Nottingham-headquartered power provider Alkane Energy has seen a 44% increase in group profits to £2.9m.

The independent energy supplier, which has bases across a large part of the UK, also reported revenue rises of 54% to £14.7m

As the largest coal mine methane operator in the UK, Alkane successfully integrated its acquisition of Yorkshire rival, Greenpark, ahead of schedule this year, and grew output for the eighth year in a row by 19%.

The business also took on a new site at Gedling and re-commissioned a base at Askern to add 5MW to its capacity.

Alkane currently holds 70MW of installed generating capacity and an electric grid capacity of 89MW.

Chief executive, Neil O’Brien, commented: “The successful acquisition of Greenpark has provided Alkane with the scale to significantly benefit from the well publicised looming energy gap requiring additional and responsive generators.

“We will continue to invest in building our portfolio of mid-sized power plants and look forward to another year of progress in 2013.”

This was posted in Bdaily's Members' News section by Miranda Dobson .