RE: Going forward6 Aug 2025 09:50
📊 Common Multiples Used in Energy Storage Valuation
| Multiple Type | Description | Typical Range |
|-------------------|-------------|----------------|
| EV/EBITDA | Enterprise Value / EBITDA | 8x – 12x for mature infrastructure |
| EV/MWh | Enterprise Value / Storage Capacity | £250k – £400k per MWh (UK benchmark) |
| P/E Ratio | Price / Earnings | Less relevant for project-level, more for corporate level |
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🧮 Scenario 1: EV/EBITDA Valuation
AW1 is forecast to generate £9m EBITDA annually.
| Multiple | Implied Enterprise Value |
|----------|--------------------------|
| 8x | £72 million |
| 10x | £90 million |
| 12x | £108 million |
This suggests that SAE’s 75.3% stake could be worth £54m–£81m, depending on market sentiment and execution.
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🔋 Scenario 2: EV/MWh Valuation
AW1 has 240MWh capacity, expandable to 480MWh.
| EV/MWh | 240MWh Value | 480MWh Value |
|--------|--------------|--------------|
| £250k | £60 million | £120 million |
| £300k | £72 million | £144 million |
| £400k | £96 million | £192 million |
This method is asset-based and reflects infrastructure investor appetite. If SAE expands to 480MWh, the upside is substantial.