REG - SIMEC AtlantisEnergy - SAE secures contract in latest Capacity Auction

SIMEC Atlantis EnergyAnnouncement

14/03/2025 08:15

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RNS Number : 7314A  SIMEC Atlantis Energy Limited  14 March 2025

14 March 2025

 

SIMEC Atlantis Energy Limited

("SAE Renewables", "SAE" or the "Company")

 

 

SAE successfully secures contract in latest Capacity Round Auction

 

SAE is pleased to announce it has secured a 15-year contract to provide vital,
reliable electricity for the National Grid in the latest T-4 Capacity Market
Auction Round (the "Auction") through its 120MW AW1 Battery Storage project
(the "Project"). SAE will be paid £60/kW/year for the duration of the
contract.

 

The Capacity Market ensures the security of electricity supply by providing a
payment for reliable sources of capacity.

 

Success at the Auction provides an additional and fixed revenue stream for the
Project and is an important component as SAE works towards financial close of
its flagship AW1 Battery Project at the Uskmouth Sustainable Energy Park
("USEP").

 

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)

 

The results are subject to confirmation by the Secretary of State for Energy
Security and Net Zero, which is due by the 24(th) March.

 

 

- 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

 

Notes to Editors

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's strategy: "Building a Sustainable Future to 2035", can be viewed in the
company's 2024 Annual report, pages 3-4.

https://saerenewables.com/wp-content/uploads/2024/06/268176-SAE-Annual-Report-2023-CL.pdf
(https://saerenewables.com/wp-content/uploads/2024/06/268176-SAE-Annual-Report-2023-CL.pdf)

 

Proud to be part of London's universe of Green Economy Equities

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