SAE Renewables News

SAE is pleased to announce that, following the successful deployment of turbine 4, the globally renowned MeyGen tidal stream site now has all four turbines fully operational. This means that the site is now at full power for the first time, delivering 6MW of predictable, renewable power. Since deployment in 2016, the turbines operated by MeyGen have undergone several upgrades and enhancements to increase system efficiency and cost reduction. The site continues to support the innovation and deve...

SAE is pleased to announce it has received the penultimate milestone payment of £1.5 million under its agreement with EL (Uskmouth) Limited (“EL”), a subsidiary of FPC Electric Land. On 5 December 2023, SAE announced that it had agreed to sell the freehold land owned by SAE to EL, for a milestone-linked total gross cash consideration of £9.8 million. BESS project development The land is being used for a 460MWh (230 MW) BESS being constructed by Uskmouth Energy Storag...

SAE has achieved the next step in delivering its ‘Building a Sustainable Future to 2035’ strategy by taking full ownership of the 120MW Battery Energy Storage System (BESS) project at the Uskmouth Sustainable Energy Park (USEP).  According to the Company’s latest estimates, the BESS project will generate average annual revenues of £12m and annual average EBITDA of £9m per annum in its first five full years of operation. The estimated capital cost of the projec...

Further to the Company’s announcement of 23 February 2023, SAE are delighted to announce that Uskmouth Energy Storage Limited, a portfolio company of Quinbrook Infrastructure Partners, on 23 May 2023, gave formal notice of their exercise of the option to take a lease of land at the Group’s Uskmouth site for one of the UK’s largest BESS projects (230MW/460MWh). SAE continues to make excellent progress on its business objectives and pioneer projects and this is another major mil...