SIMEC Atlantis Energy (AIM:SAE) BESS project receives conditional planning consent

Battery Energy Storage Project at Uskmouth receives conditional planning consent

SAE is pleased to announce that the planned 230MW / 460MWh battery energy storage system at the Uskmouth site has been granted planning consent with conditions by Newport City Council.

As announced on 24 May 2022, SAE has been working with Energy Optimisation Solutions (“EOS”) and Quinbrook Infrastructure Partners, via their portfolio company Uskmouth Energy Storage Limited (“UES”), to develop this project which will be owned and operated by UES.

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.

Following this decision we expect the remaining contractual milestones along with financial close to be achieved in Q1-23.

ENDS

For more information, please contact

SIMEC Atlantis Energy Limited

+44 (0) 7739 832 446

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.


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