REG - Quantum Data Energy - Hindlip Enters Final Phase; Pyebridge CM Award
18/03/2026 07:00
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RNS Number : 0183X Quantum Data Energy PLC 18 March 2026
Quantum Data Energy PLC
(Incorporated in England and Wales)
(Registration Number: 12886458)
LEI :213800HFVHGJ9YGO9F71
Share code on the LSE: QDE
ISIN: GB00BNG90H86
Dated: 18 March 2026
Quantum Data Energy PLC
("Quantum", "QDE" or the "Company")
Hindlip 7.5 MW FlexGen Asset Construction Enters Final Phase
and Pyebridge 8.1 MW FlexGen Asset Secures Additional CM Contract
London, UK - Quantum Data Energy PLC (LSE: QDE) is pleased to announce,
further to its previous RNS announcement dated 13 January 2026, that its
Hindlip 7.5 MW flexible generation power project ("Hindlip"), which is fully
funded in partnership with Powertree as previously announced, continues to
make significant construction progress and has entered the final phase. The
project's construction programme remains on schedule and below budget.
Further, QDE is pleased to announce that its 100% owned Pyebridge 8.1 MW
operational flexible generation power asset has secured an additional Capacity
Market ("CM") contract in the recent CM auction.
Key highlights and details of the aforementioned matters are provided below.
Hindlip Key Highlights:
QDE is pleased to confirm that the project has continued to advance on
schedule since the previous January 2026 update, with major equipment
deliveries now completed and the project transitioning into the final
electrical installation and commissioning phase.
The project remains within its approved capex budget of £5 million, with a
current forecast spend of approximately £4.67 million, representing a
favourable saving of approximately £330,000.
Key progress since the last announcement is as follows:
· Rolls-Royce MTU gensets delivered and installed - All three gensets
were delivered to site in early March 2026 and have been assembled and
positioned on their bases, representing the most significant equipment
milestone for the project;
· Transformer on site - The project transformer has been delivered and
installed;
· Switchgear building complete - The switchgear building construction
is fully complete and ready for switchgear delivery, expected by end of March
2026;
· Cabling works substantially complete - The majority of HV and LV
cabling installation has been completed, with final jointing to take place
once all equipment is in position;
· Control room in place - The control room cabin has been delivered and
installed;
· Gas infrastructure progressing - On-site gas pipework has been
completed. The gas metering skid has been ordered and is expected to be
delivered around mid-March 2026. Network Rail approval (BAPA) for gas works
under the bridge has been secured, with a Council-approved start date of 7
April 2026;
· Grid connection on schedule - NGED GRP building is in place on site.
NGED switchgear delivery is planned for 23 April 2026, with NGED installation
works commencing from 26 May 2026; and
· Site security in place - Evening and weekend security has been
deployed on site, with permanent CCTV and lighting infrastructure on order.
The photos below from the Hindlip site show the delivery and installation of
the Rolls-Royce MTU engines and further significant construction progress on
site:
1. Rolls-Royce MTU containerised gensets delivery - being crane-lifted onto
site
2. Rolls-Royce MTU containerised gensets installed and positioned on concrete
bases on site
3. Completed switchgear building with site perimeter fencing
4. Switchgear building, transformer and site infrastructure
Programme and Next Steps:
As previously announced, the Company had targeted commercial operations at
Hindlip during Q2 2026, with pre-commissioning expected to begin in early
April 2026 and final commissioning in mid-May 2026. Since the last update,
extended lead times from the District Network Operator, National Grid
Electricity Distribution ("NGED") for switchgear delivery and additional
Council approval requirements for the HV cable installation works have
resulted in the grid connection energisation date moving from April to July
2026. This has consequently moved the pre-commissioning and commissioning
programme into Q3 2026. Importantly, these delays are entirely external to the
project's own construction programme, which remains on schedule and within
budget. Based on the revised programme and contractor confirmations, the
updated timeline for Hindlip is as follows:
· Switchgear delivery and installation: end of March to April 2026;
· Gas connection works (under bridge): commencing 7 April 2026;
· NGED grid connection installation: from 26 May 2026;
· HV connection energisation: July 2026;
· Pre-commissioning and commissioning: July to August 2026; and
· Commercial operations: Q3 2026.
Pieter Krügel, CEO of Quantum Data Energy PLC, said: "The Hindlip project has
reached a significant milestone with the successful delivery and installation
of all three Rolls-Royce MTU gensets on site. With the transformer also in
place, the switchgear building complete, and the majority of cabling works
finished, the project's construction has now entered its final phase. Our
construction programme remains on schedule and within budget. While extended
external grid connection lead times from NGED and Council approvals have moved
the commissioning timeline into Q3 2026, these delays are outside of the
project's construction scope, which continues to progress as planned. Hindlip
will be QDE's second operational flexible generation asset and represents
another important step in building our portfolio of UK FlexGen power projects
to 300 MW and beyond."
Pyebridge Secures Additional Capacity Market Contract:
The Company's 100% owned Pyebridge 8.1 MW operational flexible generation
power asset was successful in securing an additional Capacity Market ("CM")
T-4 contract for the 2029/2030 delivery year in the recent CM auction. The
recent CM T-4 auction resulted in a clearing price of £27.10/kW/pa for the
2029/2030 delivery year. This clearing price is in line with the average CM
T-4 auction prices over the past number of years, with the exception of 2024
and 2025 which were higher. After adjusting for inflation, the contract is
estimated to yield c. £30/kW/year (c. £217,400 per annum) in the year of
delivery. The Company made a strategic decision to secure a one-year contract
at this auction, preserving optionality to pursue a maximum term 15-year
contract at the next T-4 auction under more favourable market conditions in
order to secure the highest price possible for its 15-year contract (see
rationale below).
Pyebridge now holds seven uninterrupted 1-year CM contracts up to 2030. Total
contracted CM income across all CM agreements equals £1,924,108. The CM
contract income is in addition to the site's wholesale market revenue through
its PPA with Statkraft and Embedded Benefits revenue, currently yielding c.
£290,000 per MW annually, as previously announced.
Key Highlights and Rationale:
· The UK Capacity Market ("CM") is a government-supported program aimed
at ensuring electricity supply security by providing guaranteed income
payments to reliable capacity sources, like QDE's flexible generation power
assets.
· The advantages of a CM contract include guaranteed, stable, long-term
revenues, reducing exposure to wholesale market volatility.
· Pyebridge successfully met the necessary requirements under the CM
rules and participated in the T-4 CM auction, employing a dual-tier bidding
strategy targeting either a 15-year or one-year contract depending on the CM
auction clearing price.
· The recent 2029/2030 T-4 CM auction saw a rare and once-off
combination of factors that resulted in a lower CM clearing price compared to
2024 and 2025, most notably DESNZ's decision to lower the refurbishing capex
threshold, triggering a flood of thermal capacity into the auction. This was a
direct government policy response to concerns about thermal fleet retirement -
but the resulting oversupply was arguably an unintended consequence. Major
plants such as Peterhead (1,180 MW), Damhead Creek (812 MW), and Didcot B5
(761 MW) entered as refurbishing units, adding c.14.7 GW of derated capacity
that had not been present in prior auctions at this scale.
· The above-mentioned surplus was the widest in the Capacity Market's
history, compared to just 1 GW in the prior year. It was this surplus, not a
structural shift in market fundamentals, that drove the lower clearing price
compared to 2024 and 2025.
· The next CM T-4 auction (early 2027) is expected to clear materially
higher as the demand target recovers, refurbishing supply normalises, and
speculative battery volume retreats.
· Pyebridge's decision to forego a 15-year contract and instead secure
a 1-year agreement was a deliberate and value-preserving strategic choice that
positions the asset for a next round under more favourable conditions.
The T-4 Capacity Market Auction for the 2029/2030 delivery year concluded on
10 March 2026, clearing in Round 10 at £27.10/kW/year. The results are
provisional and final results are expected to be confirmed by NESO around 20
March 2026. A total of 40,109 MW of de-rated capacity was procured across 691
CMUs, from 44,088 MW of capacity that entered the auction (90.97% awarded).
The target capacity was 39,400 MW. Gas-fired generation was the dominant
technology, accounting for nearly 60% of awarded capacity, and the balance
made up of a mix of other technologies.
Block listing six-month return:
This part of the announcement is made in accordance with UKLR 6.4.4R(4).
QDE presents a six-month return for Prepaid Warrants shares allotted under a
block listing approval granted on 17 September 2025 as previously announced.
The details are shown on the table below.
Name of Applicant Quantum Data Energy PLC
Name of Scheme Prepaid Warrants Block Listing
Return Period From: 18/9/2025 To: 17/3/2026
Date of Approval for Admission by LSE 17/9/2025
Number of Pre-paid Warrant Shares approved for Admission / originally listed 116,700,142
by LSE under Pre-Paid Warrant block listing:
Plus: N/A
The amount by which the block scheme(s) has been increased since the date of
the last return (if any increase has been applied for):
Less: 116,099,808
Number of securities issued/allotted under scheme(s) during Return Period (see
LR3.5.7G):
Equals: 600,334
Balance under scheme(s) not yet issued/allotted at end of Return Period:
Total number of shares in issue at the end of the Return Period: 223,129,152
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About Quantum Data Energy PLC:
Quantum Data Energy PLC (LSE: QDE) is a UK-based developer, operator and
owner of flexible generation power assets. The Company delivers flexible,
modular power solutions to the UK grid and AI datacentres worldwide, enabling
scalable, reliable energy for next-generation digital infrastructure. The
Company has deep expertise in infrastructure planning, grid access, gas
access, and efficient power supply. Its new AI power supply strategy is
intended to position QDE as a leading AI infrastructure platform on
the London Stock Exchange.
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.
Pieter Krügel contact@quantumdata.energy (mailto:contact@quantumdata.energy) Quantum Data Energy PLC CEO
Guy Wheatley, CFA +44 (0)203 4117773 Fortified Securities Corporate Broker
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