REG - SIMEC AtlantisEnergy - SAE enters JV to co-develop AW2 Battery Project

SIMEC Atlantis EnergyAnnouncement

15/05/2025 14:30

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RNS Number : 8847I  SIMEC Atlantis Energy Limited  15 May 2025

 

 

15 May 2025

 

 

SAE and Econergy enter into a JV to drive forward the Afon Wysg 2 (AW2)
Battery Storage project at the UK leading USEP

 

SAE and Econergy International Limited (Econergy) have entered a strategic
joint venture ("JV") to co-develop the AW2 250MW Battery Storage project at
SAE's Uskmouth Sustainable Energy Park (USEP).

 

This partnership brings together two leaders in the renewable energy space,
combining SAE's experience in developing complex renewable energy generation
and battery storage projects in the UK and its ownership of the highly
strategic USEP site with Econergy's deep expertise in battery storage
construction, financing, and execution. Their combined experience ensures the
project is well-positioned to move through the planning process and toward
financial closure.

 

As battery technology continues to progress, the team is designing the project
for a duration of up to 5 hours, bringing the project's total potential
capacity to 1,250 MWh. The project aims to achieve planning permission within
the next 12 months and financial close in 2027.

 

The AW2 project will be the third battery storage project to be delivered at
the USEP, which is one of the leading battery storage sites in the UK, with
over 1GW of projects either in construction or development.

 

SAE CEO Graham Reid commented:

 

"This partnership is an ideal fit for both parties and for the project. We
have a clear strategy to be an independent power producer, and we are
delighted to be partnering with a company that has the same strategy. We look
forward to working with Econergy to deliver this exciting project for our
businesses, the community and our shareholders."

 

Econergy Head of Energy Storage, Joshua Murphy commented:

 

"This JV with SAE marks a strategic milestone in Econergy's continued
expansion in the UK energy storage market. As we scale our energy storage
portfolio across Europe, the AW2 project reflects our commitment to building
critical infrastructure that supports the UK's grid stability. Partnering with
SAE at one of the UK's most advanced energy hubs reinforces our ambition to be
a leading force in delivering flexible, reliable, and sustainable power
solutions."

 

 

 

 

 

- Ends -

 

 

 

For further information, please contact:

 

 SAE                                                      +44 (0)7739 832 446

 Sean Parsons, Director of External Affairs

 Strand Hanson Limited (Nominated and Financial Adviser)  +44 (0)20 7409 3494

 Richard Johnson

 Rory Murphy

 David Asquith

 Zeus Capital Limited (Broker)                            +44 (0)20 3829 5000

 Louisa Waddell

 Simon Johnson

 Econergy                                                 +972-523650184

 Eliana Horenczyk, Marketing Manager

 

Notes to Editors

 

SAE

 

SAE is a global developer, owner and operator of sustainable energy projects.
SAE owns the world's flagship tidal stream project, MeyGen, and the Uskmouth
Power Station site, that is being repurposed into a sustainable energy park
that will become one of the UK's largest battery energy storage sites.
https://www.saerenewables.com/ (https://www.saerenewables.com/)

 

SAE recently released a video animation highlighting the scale and benefits of
the USEP site. This can be viewed here
(https://vimeo.com/1026044237/643ed59fa6?share=copy)

 

SAE's strategy: "Building a Sustainable Future to 2035", can be viewed here
(https://saerenewables.com/strategy/)

 

Econergy

 

Econergy Group (TASE: ECNR) is a leading European IPP and active developer
specializing in solar PV, Wind, and Energy Storage projects across key
European markets, including the UK, Italy, Spain, Romania, Poland, and Greece.
With a robust project pipeline exceeding ~14GW, Econergy is at the forefront
of driving Europe's renewable energy transition.

The company's local teams provide a strategic advantage, ensuring close
collaboration with regulatory entities and local communities. Econergy's solid
strategic partnerships are key to securing project funding and further.
Additionally, the company generates revenue across the entire value chain by
selling electricity, earning development and operation fees, and selling
projects at various stages of development, ensuring a diversified and
sustainable income stream.

http://www.econergytech.com (http://www.econergytech.com)

 

 

 

 

 

 

 

 

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