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.”
The company’s focus on battery storage reflects its commitment to integrating innovative solutions that maximise grid utility while contributing to a greener energy landscape. SAE Renewables is positioning itself as a leader in the next generation of renewable energy systems, harnessing its operational expertise and proven project development track record.
In Summary
SAE Renewables’ progress at Uskmouth is a testament to the company’s vision and capabilities in delivering large-scale energy storage projects. With substantial potential across both its Uskmouth and MeyGen sites, the company stands at the forefront of advancing renewable energy infrastructure. The latest milestone payment not only underscores its financial viability but also reinforces confidence in its strategy for future growth.
As SAE Renewables continues to expand its innovative energy solutions, the industry eagerly anticipates its next advancements in the renewable energy space.
