Mast Energy Developments has set out its reserve power project pipelinefollowing its listing on 14 April. It is targeting 300MW of capacity and said it is engaging with developers and has access to sites totalling around 166MW.
Among its target sites, the Bordesley project is a 5MW gas engine project wit upward optimisation capability of 19.12MW. It has been progressed to the EPC Scope of Works, and a 20-year tenancy agreement with two 5-year extension periods with the landlord. Updated EPC proposals are expected this month, which will enable MED to assess final project capital costs and to report on a construction timeline aiming for steady state production this year.
MED said the site ‘”now has numerous optimisation options to develop as a reserve power generation hub” and would share infrastructure with a second site dubbed ‘Target 2’. It said the site offered economy of scale due to two close-by reserve power sites totalling 14.12 Mw of generating capacity.
Target 2 is a 9MW site that already houses gas engines. Site purchase will “trigger an immediate phased-in approach to operate the engines on load with 24/7 availability. MED said it expects £42,500 per month in revenue from this site as soon as it achieves steady state production.
The company also has a six-month option on ‘Target 3’, Birmingham Rd, a 6MW site in the West Midlands. Ithas planning consent with the capability to be developed as a reserve power gas engine, a hybrid site with battery alongside, “or preferably as a long duration battery storage site”, MED says, with both DNO and private wire connection options available.
As regards operational sites, MED is negotiating acquisition of a 3.6-4.4MW site and may look to acquire an associated site with capacity up to 19.80 MW.
Paul Venter, chief executive of MED said: “The building blocks of the platform and launching pad to achieve MED’s operational and commercial success in future are in place and MED’s team can now get on with the task in hand. Having raised and received £5.54 million with key institutions and retail investors who have recognised the opportunity, we now look forward towards successful delivery of the projects in our project pipeline and imminent revenue generation.”