SIMEC Atlantis Energy wins 15 year UK electricity supply deal

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SIMEC Atlantis Energy Ltd on Friday said it has struck a 15 year contract to provide electricity to the UK National Grid.

The Scotland-based owner and developer of sustainable energy projects said it secured the contract in the latest T-4 capacity market auction round through its 120 megawatt AW1 battery storage project.

It will be paid £60 per kilowatts per year for the duration of the contract.

SAE said the contract provides an ‘additional and fixed revenue stream’ for the project and is an ‘important component’ as it works towards the financial close of the project at the Uskmouth Sustainable Energy Park.

Shares in Simec Atlantis Energy were up 8.3% to 2.22 pence in London on Friday afternoon.

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