REG - Mast Energy Dvlpmts. - Hindlip Construction Progress Update

Mast Energy DevelopmentsAnnouncement

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RNS Number : 9746V  Mast Energy Developments PLC  20 August 2025

Mast Energy Developments PLC

(Incorporated in England and Wales)

(Registration Number: 12886458)

LEI :213800HFVHGJ9YGO9F71

Share code on the LSE: MAST

ISIN: GB00BNG90H86

("MED" or "the Company")

 

Dated: 20 August 2025

 

Mast Energy Developments PLC

("MED" or the "Company")

 

Hindlip Construction Progress Update

 

Mast Energy Developments PLC is pleased to announce, further to its RNS
announcement dated 6 May 2025, a construction progress update regarding its
Hindlip 7.5 MW flexible generation power site which is fully funded in
partnership with Powertree, the highlights and details of which are outlined
below.

 

Hindlip Construction Progress Highlights:

·    Site property's long-term leasehold option exercised and the
long-term leasehold agreement exchanged and completed;

·    Grid connection >5 MW Gate 2 protection application submitted and
approved;

·    Grid connection for c. 7.5 MW secured and majority of construction
costs already paid;

·    RFP submitted to industry-leading EPC firms, and following careful
review of associated EPC proposals, MTU (Rolls Royce) engines selected as the
best option for this site;

·    Contract for new engines executed and order placed; and

·    Site full construction works (including inter alia civils, LV and HV
electricals, and grid- and gas connection) planned to commence in September
2025, with Commercial Operations Date ("COD") expected in Q2 2026.

 

Pieter Krügel, MED CEO, commented: "We are very pleased with the
construction progress at Hindlip, with construction on track to be completed
and COD expected in Q2 2026. It is a pleasure working with a partner of the
calibre of Powertree, which not only brings investment capital to the table,
but also a wealth of industry experience."

 

"The Hindlip site's already secured Capacity Market T-4 15-year contract with
a cumulative guaranteed gross profit income value of c. £6.3m (before
inflation increases) as previously announced, plus Embedded Benefits income,
and PPA merchant trading income following COD make the site a very attractive
investment. This along with other key elements including inter alia these
types of flexgen sites being a critical part of the UK's energy security
policy, fits perfectly into MED's business model and strategy to build a
portfolio of 300+ MW."

 

"We are looking forward to updating the market with further positive progress
and developments over the coming weeks."

 

Stay up to date with MED's latest news and updates by joining our emailing
list and social media channels, as follows:

 

MED general enquiries - https://www.med.energy/contact
(https://www.med.energy/contact)

MED email alerts - https://www.med.energy/rnsannoucements-1
(https://www.med.energy/rnsannoucements-1)

MED LinkedIn page -
https://uk.linkedin.com/company/mast-energy-developments-plc
(https://uk.linkedin.com/company/mast-energy-developments-plc)

MED X (formerly Twitter) handle - @mastplc

 

 

ENDS

 

This announcement contains inside information for the purposes of the UK
version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ('UK MAR'). Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

For further information please visit www.med.energy (http://www.med.energy/)
or contact:

 Pieter Krügel      info@med.energy (mailto:info@med.energy)  Mast Energy           CEO

                                                              Developments PLC
 Guy Wheatley, CFA  +44 (0)74 9398 9014                       Fortified Securities  Corporate Broker
 Jon Belliss        +44 (0)20 7399 9425                       Novum Securities      Corporate Broker

 

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