Global Infrastructure SherpaSIMEC Atlantis Energy subsidiary sells site to EL (Uskmouth) Limited
SAE's subsidiary, SIMEC Uskmouth Power Limited, sold the site for the AW1 battery storage project to EL (Uskmouth) Limited for £9.0m, with an initial £2.4m paid on financial close and the balance held in escrow.
Counterparts (3)
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- SIMEC Atlantis Energy subsidiary sells site for £9.0m.
- Buyer is EL (Uskmouth) Limited.
- Transaction involves an initial payment and escrow arrangement.
- Deal highlights growing interest in battery storage solutions.
Source Intelligence
The AW1 project is forecast to generate average revenues of c.£13m per annum and average EBITDA of c.£9m per annum in its first five full years of operation. SAE owns a controlling 75.3% shareholding in this holding company [AW1 Storage Holdings Limited], with the remaining 24.7% minority stake being owned by BESS Investment UK Limited. SAE is providing a £3.1m equity investment into the holding company and a £11.1m shareholder loan to AWES. The term of the FA runs until December 2031, at which point the loan will be repaid or refinanced by AWES. The project has a contracted grid connection date of October 2026
"SIMEC Atlantis Energy Limited ("SAE", the "Company" or, together with its subsidiaries, the "Group")"
"The project is owned and is being constructed by AW1 Energy Storage Limited ("AWES"), a company dedicated to the construction, ownership and operation of this project."
"Throughout the process, Elgar Middleton Infrastructure and Energy Finance LLP has acted as the financial advisor to AWES."
"Project financing is being provided to AWES through a facility agreement ("FA") with Norddeutsche Landesbank Girozentrale ("Nord/LB"), a leading German commercial bank and a prominent financier of renewable energy projects for over 30 years."
"with the remaining 24.7% minority stake being owned by BESS Investment UK Limited, part of a global renewable energy group, which has committed to an equity investment of £4.2m into the holding company and a £3.6m shareholder loan to AWES."
"The shares in AWES are held 100% by a holding company, AW1 Storage Holdings Limited."
"a loan from CCR, announced on 16 April 2025"
"from the proceeds from sale of the site for the project by SAE's subsidiary, SIMEC Uskmouth Power Limited ("SUP"), to EL (Uskmouth) Limited for a consideration of £9.0m."
"from the proceeds from sale of the site for the project by SAE's subsidiary, SIMEC Uskmouth Power Limited ("SUP"), to EL (Uskmouth) Limited for a consideration of £9.0m."
Timeline
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