SAE secures contract in latest Capacity Auction
SAE secures 15-year Capacity Market contract for 120MW battery storage project at £60/kW/year.
- Contract duration 15 years
- Battery storage capacity 120MW
- Annual payment per kilowatt £60/kW/year
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SAE is pleased to announce it has secured a 15-year contract to provide vital, reliable electricity for the National Grid in the latest T-4 Capacity Market Auction Round (the "Auction") through its 120MW AW1 Battery Storage project (the "Project"). SAE will be paid £60/kW/year for the duration of the contract.
The Capacity Market ensures the security of electricity supply by providing a payment for reliable sources of capacity.
Success at the Auction provides an additional and fixed revenue stream for the Project and is an important component as SAE works towards financial close of its flagship AW1 Battery Project at the Uskmouth Sustainable Energy Park ("USEP").
SAE recently released a video animation highlighting the scale and benefits of the USEP site. This can be viewed here
The results are subject to confirmation by the Secretary of State for Energy Security and Net Zero, which is due by the 24th March.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.