SGN and Murphy enter JV
SGN and Murphy have entered into a new 50:50 joint-venture in utility asset ownership.
15th July 2019 by Networks
The gas network has acquired 50% ownership in Murphy Utility Assets (MUA), a recently established utility connections asset owner with expertise in the utility market.
MUA will initially focus on the adoption of gas and electricity infrastructure assets across the UK, owning and maintaining residential and commercial connections for clients. In the longer-term, the joint-venture has plans to develop a full multi-utility offering, providing a ‘one-stop shop’ for all utility infrastructure on new developments, including future energy solutions such as heat networks. Greg Addison-Smyth from J Murphy & Sons Ltd has been appointed as the managing director of the new venture.
Simon Reilly, commercial director at SGN, commented: “This is an exciting opportunity for us to enter a new market. As well as aligning neatly with our property development business SGN Place, this new venture leverages our group’s core skills and experience as an infrastructure owner and operator combining with Murphy’s established presence in the construction market.
“This move will allow us to build a platform for growth into the delivery of heat networks and other alternative heat solutions as the challenge of decarbonisation begins to change the mix of utility connections to new housing developments.”
Kevin Moriarty, group investment director at Murphy, commented: “Since we started our connections and assets business, we always knew it had potential to grow. We are delighted that SGN has now joined us on this exciting new venture. By bringing together our complementary skills and experience, it will support the growing business to acquire and deliver new utility assets. It also sits perfectly with our investment strategy at Murphy to invest in long-term assets and create sustainable income streams for the business.”
Login on register to comment
Cadent backs launch of major bio-CNG HGV refuelling station
Gas network’s £250,000 infrastructure investment ensures supplies to existing connected customers have not been impacted
Editor’s blog: The biggest tests of resilience are yet to come
Network content director Jane Gray reflects on the industry's coronavirus response to date and the challenges still to come.
From the front line: Chris Garside and Andy Simcoe, Northern Gas Networks
Key workers across the power and gas networks are playing a critical role in the national response to Coronavirus. Network has committed to profiling their stories.
Related supplier content
Load patterns and lockdown: how Covid-19 is impacting electricity networks
Insights into dynamics on the low voltage network as the outbreak unfolds
Protect electrical equipment from insulation failure
Insulation faults are a major cause leading to the eventual failure of electrical equipment. Partial discharge (PD) is a very reliable indicator of developing insulation faults. Regular PD testing allows users to detect and analyze PD activity
How E.ON. is helping the City of London become a zero emissions city
Discover Citigen. Deep in the heart of our bustling capital