SIMEC Atlantis Energy Ltd (LON:SAE), now known as SAE Renewables, has acquired a 120-MW/240-MWh battery energy storage system (BESS) project in Newport, South Wales. This significant initiative is part of the Uskmouth Sustainable Energy Park (USEP), which SAE owns. The project was purchased from Enso Green Holdings Limited (EGHL), a joint venture between Cero Generation Ltd and Enso Energy Ltd, at an estimated cost of £65 million.
SAE has already paid an initial sum of £299,000 to EGHL for the acquisition, with an additional £3.85 million to be paid once the project reaches financial close. Elgar Middleton is advising SAE on this financial aspect. The BESS will be constructed on the site of former cooling towers, which SAE has already cleared, paving the way for the construction phase. The project has secured planning permission as of January and is set to become operational by October 2026. Initially designed for two-hour duration storage, the project has the potential to expand to four hours, increasing its capacity to 480-MWh.
WSP has been brought on board as the owner’s engineer to aid in the development of the engineering, procurement, and construction (EPC) contract. They will also handle technical due diligence and oversee the construction process.
This project marks the second BESS venture at USEP, which, according to SAE, has the potential to deliver approximately 1 GW of BESS.
SAE Renewables continues to make strides in expanding sustainable energy solutions, with this latest acquisition enhancing the capacity and future prospects of the Uskmouth Sustainable Energy Park.
SAE Renewables Limited (LON:SAE) was founded in 2005 as a supplier of tidal stream turbines, SAE quickly grew to include development of tidal stream projects and is the majority owner of MeyGen, the world’s largest tidal stream energy project.
