|
Ampeak Energy Ltd on Friday said it expects the Afon Wysg 1 project to start operations in the fourth quarter of 2026, as it posted a narrowed interim loss. The developer, owner and operator of sustainable energy projects, formerly known as SIMEC Atlantis Energy Ltd said pretax loss narrowed to £4.6 million in the first half of 2025, from £6.0 million a year prior. Revenue dove 71% to £3.5 million from £12.0 million. Notably, total expenses decreased 66% to £5.3 million from £15.4 million. The firm had a cost on the transfer of land inventory on recognition of sale of £9.9 million in the first half of 2024, which did not repeat in the first half of 2025. Looking ahead, Ampeak Energy said: ‘The Afon Wysg 1 project is forecast to commence operations in Q4 2026 and generate for the group average revenues of £13 million per annum and average earnings before interest, tax, depreciation and amortisation of £9 million per annum in its first five full years of operation, which will be transformative for cashflows.’ The Afon Wysg 1 project is a 240 megawatt per hour battery energy storage system located at the Uskmouth Sustainable Energy Park in Wales. Ampeak Energy on its website says it is transforming Uskmouth into one of the largest battery energy storage systems sites in the UK. Ampeak Energy shares fell 6.7% to 2.24 pence each on Friday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
