REG - Van Elle Holdings - Eight-year electricity transmission agreement

Van Elle HoldingsAnnouncement

20/01/2025 07:00

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RNS Number : 8588T  Van Elle Holdings PLC  20 January 2025

 

20 January 2025

 

Van Elle Holdings plc

('Van Elle', the 'Company' or the 'Group')

 

Partnering agreement with Wood for delivery of electricity transmission
schemes

 

Van Elle Holdings plc (AIM: VANL), the UK's largest ground engineering
contractor, announces that it has signed an eight-year partnering agreement
with Wood Transmission & Distribution Limited ("Wood") to deliver ground
investigation, design and construction activities for piling and foundations
across several transmission schemes as part of Ofgem's Accelerated Strategic
Transmission Investment (ASTI) programme(1).  Subject to performance, the
partnership is expected to be worth in excess of £30m to Van Elle over that
period.

 

Works have commenced on initial projects in New Cumnock, Argyll and most
recently at Beauly-Loch Buidhe where ground investigation works are mobilising
throughout January for 240 towers to be constructed in 2026-27.

 

Chief Executive, Mark Cutler, commented: "Wood has been a long-standing
customer for Van Elle, so we are delighted to announce this partnering
agreement to help deliver part of the significant scale of energy
infrastructure in Scotland together over the coming years.  Our breadth of
capability allows us to integrate ground investigation, design and piling and
foundation solutions best suited to the project requirements.  Initial works
have commenced, and activity levels will now increase as other schemes are
mobilised across Scotland.

 

"Our recent acquisition of Albion Drilling based in Stirling will support with
a local resource base and specialist skills needed to deliver these important
commitments, often in remote and challenging locations.

 

"This agreement is the first of a number that we anticipate in this growing
sector; reinforcing our confidence in our medium-term ambitions."

 

 

(1):https://www.ofgem.gov.uk/decision/decision-accelerating-onshore-electricity-transmission-investment
(https://www.ofgem.gov.uk/decision/decision-accelerating-onshore-electricity-transmission-investment)

 

For further information, please contact:

 Van Elle Holdings plc                                   Via Walbrook

 Mark Cutler, Chief Executive Officer

 Graeme Campbell, Chief Financial Officer

 Peel Hunt LLP (Nominated Adviser and corporate broker)  Tel: 020 7418 8900

 Ed Allsopp

 Charlotte Sutcliffe

 Tom Graham

 Walbrook PR Limited                                     Tel: 020 7933 8780

                                                         or vanelle@walbrookpr.com
 Tom Cooper                                              07971 221 972

 Nick Rome                                               07748 325 236

 

 

About Van Elle Holdings plc:

 

Van Elle Holdings is the UK's largest specialist geotechnical engineering
contractor. Formed in 1984 and listed on AIM in 2016, the Company provides a
wide range of ground engineering techniques and services including ground
investigation, general and specialist piling, rail geotechnical engineering,
modular foundations, and ground improvement and stabilisation services.

 

Van Elle operates through three divisions: General Piling, Specialist Piling
and Rail, and Ground Engineering Services; and is focused on diverse end
markets including residential and housing, infrastructure and regional
construction - across which the Group has completed more than 20,000 projects
over the last 35 years.

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