Mast Energy Developments on acquisition trail in South West
Mast Energy, the multi-asset owner, developer and operator in the rapidly growing flexible power market, has confirmed that it is in advanced discussions regarding the potential acquisition of an existing operational 10MW flexible power generation site located in south-western England.
The main rationale behind acquiring an existing operational site is to achieve a lower investment cost per installed MW and a shorter timeline to revenue generation compared to a new-build. The potential acquisition will be subject to, among other things, final due diligence and funding.
Mast says discussions have been positive, and it is confident that the potential acquisition will be successful.
Pieter Krügel, Mast's CEO, said: "We are excited about the prospect of the potential acquisition, and although there is no guarantee on the current terms or timeline, we are working diligently to progress and complete the transaction as quickly as possible.
"We are looking forward to updating the market with further progress across the board in due course."
Mast Energy Developments acquires, develops and operates small-scale, flexible-power generation plants, with a goal to reach a 300 MW portfolio of safe, clean power. These plants will be fed into the United Kingdom’s national grid to contribute to stable electricity provision and prevent future shortages by balancing out the national grid at critical times, thereby reducing blackout events.
The company currently operates a 7.5 MW gas-powered standby generation facility located at Hindlip in Worcester alongside other projects in Derbyshire, central Birmingham, Lincolnshire and Lancashire.
