SAE Renewables (LON:SAE) continues to make significant strides in the renewable energy sector with the announcement of a key milestone payment on its Uskmouth battery energy storage project. The company has received a £1.5 million penultimate payment as part of the £9.8 million consideration for its flagship 230MW (460MWh) battery storage initiative at Uskmouth in Wales. With £7.0 million already received, this development brings SAE Renewables closer to final settlement, which will follow the delivery of the first 10% of the project’s battery capacity.
This milestone not only highlights the company’s financial progress but also validates its capacity to leverage the immense energy storage potential across its strategic sites. The Uskmouth project alone boasts an impressive future capacity of 719MW (2,876MWh), complemented by 207MW (828MWh) potential at the MeyGen site in Scotland.
Adam Forsyth of Longspur Research commented: “This initial deal proves the potential of the company’s energy storage opportunity, with vast capacities at Uskmouth and MeyGen providing the ability to transform existing grid connections into revenue-generating battery storage projects.”
