A partnership aimed at acquiring large-scale thermal power generation assets has been announced.

Denham Capital, a leading global energy-focused private equity firm, and Thesis Energy, a London-based independent power management company, confirmed the partnership, called Thesis Energy, on Wednesday.
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The new platform will acquire and actively manage large-scale gas, coal and biomass-fired power generation and cogeneration assets across Western Europe.

Christopher Picotte, Thesis Energy Chairman and Co-Founder, stated: “The current complexity and rapid pace of change in the power markets in Europe create challenges for all market participants but also a significant opportunity for new entrants. We believe that a combination of competitive, regulatory and political factors will drive the market to a very different configuration – both physically and with respect to asset ownership – over the next decade.”

Luis Pais Correia, President and Co-Founder, added: “We do not subscribe to the view that a viable future European market model will be devoid of all large-scale conventional generation. And, looking at the current market simply as an opportune time to deploy capital because utilities are selling assets is not sufficient. Denham contributes substantial capital resources and also a sophisticated understanding of the markets and experience in asset ownership.”

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