REG - SIMEC AtlantisEnergy - SAE signs £40m contract for Battery Project

SIMEC Atlantis EnergyAnnouncement

24/05/2022 07:16

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RNS Number : 5180M  SIMEC Atlantis Energy Limited  24 May 2022

 

 

 

RNS

23 May 2022

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

 

SAE signs £40m contract for one of UK's largest Battery Storage Projects at
Uskmouth

 

SAE is delighted to announce that it has entered an agreement with Energy
Optimisation Solutions and Quinbrook Infrastructure Partners via their
portfolio company Uskmouth Energy Storage Limited

('UES') to deliver a 230MW / 460MWh battery energy storage system (BESS) at
the Uskmouth site. This will be one of the largest BESS developments in the
UK. The 230MW / 460MWh BESS will help play a key role in the UK's energy
transition and the integration of more renewable power into the electricity
system.  This represents an anchoring project in the development of the
Uskmouth site into a Sustainable Energy Park and is another key step in SAE
delivering value for its shareholders.

 

The project will deliver to SAE c.£40m in revenue over 30-years, of which
c.£11m will be paid within the next 18 months, subject to the achievement of
certain milestones.

 

UES will own and operate the project. The development includes a modification
of the grid connection agreement and a planning application, the latter to be
determined by Newport City Council. Construction is expected to take 18
months, with the project expected to become operational towards the end of
2024.

 

 

 

 

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

 Simon Johnson

 Energy Optimisation Solutions Limited and Private Energy Partners Limited   +44 (0) 7789 173559

                                                                             +44 (0) 7831 797846

 Peter Walker

 Dr David Williams

 

 

Notes to Editors

 

Uskmouth Energy Storage Limited

UES is a project vehicle owned under a joint development and investment
agreement between Energy Optimisation Solutions Limited (EOS) and Private
Energy Partners Limited (the development arm of Quinbrook Infrastructure
Partners). EOS is a leading developer and operator of renewable projects in
the UK. EOS develops projects across all renewable asset classes and has a
development pipeline of c.1 GW.

 

Quinbrook Infrastructure Partners

Quinbrook Infrastructure Partners is the investment manager sponsor of UES and
is focused on investment in renewable technologies in the UK. It is also an
ESG-focused, 'value add' investment manager with a specialist focus on low
carbon and renewable energy supply, storage, grid stability and related assets
and businesses. QIP has led investment teams and portfolio companies that have
invested over USD 2.5 billion of equity in over 200 low carbon, renewable,
storage and grid support projects covering a wide spectrum of technologies.

 

SAE

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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