IN BRIEF: SIMEC Atlantis Energy enters joint venture for AW2 project

SIMEC Atlantis Energy Ltd - Scotland-based owner and developer of sustainable energy projects - Enters a joint venture with renewable energy project developer Econergy International Ltd to co-develop the AW2 250 megawatt battery storage project at SIMEC's Uskmouth Sustainable Energy Park. This will be the third battery storage project to be delivered at Uskmouth, at which there is currently more than one gigawatt of projects either in construction or development. The two companies will design the AW2 project for a duration of up to five hours, bringing its total potential capacity to 1,250 megawatt hours. The project aims to receive planning permission within the next 12 months and achieve financial close in 2027.

"This partnership is an ideal fit for both parties and for the project. We have a clear strategy to be an independent power producer, and we are delighted to be partnering with a company that has the same strategy," says SIMEC Chief Executive Officer Graham Reid.

Current stock price: 2.13 pence

12-month change: up from 0.85p

By Emily Parsons, Alliance News reporter

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