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
The results are subject to confirmation by the Secretary of State for Energy Security and Net Zero, which is due by the 24th March.
- Ends -
For further information, please contact:
| SAE Sean Parsons, Director of External Affairs | +44 (0)7739 832 446 |
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| Strand Hanson Limited (Nominated and Financial Adviser) Richard Johnson Rory Murphy David Asquith | +44 (0)20 7409 3494 |
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| Zeus Capital Limited (Broker) Louisa Waddell Simon Johnson
| +44 (0)20 3829 5000 |
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/
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
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