A partnership targeting the acquisition of large-scale thermal power generation assets has been announced.

Denham Capital, a leading global energy-focused private equity firm, and Thesis Energy, an independent power management company based in London, announced the partnership, which is to be called Thesis Energy, on the 11th of March.

This new entity will acquire and actively manage large-scale gas, coal and biomass-fired power generation and cogeneration assets throughout Western Europe.

Christopher Picotte, Chairman and Co-Founder of Thesis Energy, said: “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 of Thesis Energy, stated: “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.”