REG - SIMEC AtlantisEnergy - SAE develops new future for Uskmouth site

SIMEC Atlantis EnergyAnnouncement

28/04/2022 07:00

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RNS Number : 6027J  SIMEC Atlantis Energy Limited  28 April 2022

 

 

 

RNS

28 April 2022

SIMEC ATLANTIS ENERGY LIMITED
("SAE", the "Company" and, together with its subsidiaries, the "Group")

 

SAE develops new future for Uskmouth site and releases value from existing
asset

 

SAE is pleased to provide an update on the transition of the Uskmouth site
into a sustainable energy park, which as a first step includes plans to
deliver a Battery Energy Storage System ("BESS"). The Uskmouth site has a
230MW grid connection coupled with significant land and infrastructure that
make it a prime location for the delivery of a large-scale, commercially
attractive, BESS facility. The widespread integration of BESS into
transmission and distribution systems is widely recognised as a key enabler of
increased and more rapid integration of intermittent renewable energy into the
UK electricity supply.

 

SAE is at an advanced stage in the BESS development process having submitted
the Modification Application to National Grid, which requests that the
Uskmouth site's connection agreement be varied to accommodate a BESS facility.
SAE has also submitted a screening report to Newport City Council in relation
to the construction of a 230MW BESS facility on the former coal stockyard, and
is working with an industry leading partner to expedite the delivery of the
battery storage facility.

 

With the development of a BESS at the Uskmouth site, SAE is no longer pursuing
the previously announced plans for the Uskmouth Conversion Project and has
notified Welsh Government and relevant stakeholders that it will be
withdrawing the permit variation application.

 

Following this decision, SAE has entered a contract to sell certain items of
plant that are no longer required for its future plans of the site. A
contract, worth £1.2m, has been awarded to a local company, Wye Valley
Demolition, to remove the surplus plant and equipment. This contract brings in
immediate funding to SAE's business, helping to secure SAE's broader
objectives and delivering value for shareholders.

 

Whilst SAE will not progress the Uskmouth Conversion Project, the need to
repurpose coal fired power stations has never been more important in order to
reduce emissions, enhance energy security, and reduce the waste being sent to
landfill and polluting our oceans. Governments globally are exploring projects
that can quickly deliver energy security and independence, and our coal plant
conversions have the ability to deliver a quick and cost-effective solution.
SAE remains committed to accelerating the transition of existing coal fired
generation to lower emissions fuel and is working with it partners to take the
vital lessons learnt to other countries where it can make the most impact.

 

Graham Reid, Chief Executive Officer of SAE commented:

 

"The team and I are tremendously excited about this next step for the Uskmouth
site, which will help deliver the UK's net zero targets, release important
value for the business and allow the team to build on the lessons learnt to
help countries around the world to achieve the targets of reducing reliance on
coal, increasing energy security, and finding long term solutions to the
growing waste problem."

 

For more information please contact:

 

 SIMEC Atlantis Energy Limited               +44 (0) 7739 832 446
 Sean Parsons, Director of External Affairs
 Investec Bank PLC - NOMAD and Joint Broker  +44 (0) 20 7597 5970
 Jeremy Ellis

 Ben Griffiths

 Arden Partners PLC - Joint Broker           +44 (0) 20 7614 5900

 Ruari McGirr

 Richard Johnson

 Simon Johnson

 

Notes to Editors

 

SAE is a global developer, owner and operator of sustainable energy projects
with a diverse portfolio in various stages of development.

 

https://www.simecatlantis.com/ (https://www.simecatlantis.com/)

 

 

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