MAST Energy Developments PLC (“MED”) is a public company, incorporated in England and Wales and with its main area of operations in England. MED is listed on the Standard List of the London Stock Exchange and is led by an experienced Board of Directors. MED participates in the lucrative UK reserve power market which typically consists of day-ahead and real-time markets and is aimed at preventing future shortages by balancing out the national grid at critical times and thereby reducing future blackouts events.
MED maintains a focussed strategy to acquire advanced assets of varying capacity, and to develop its targeted sites to fully commercially operating units, each contracted with MED via a master service agreement. This structure is maintained through a group of subsidiary companies (Special Purpose Vehicles (“SPV”)), each SPV holding one or a number of sites. MED’s three current sites are held within Pyebridge Power Ltd (Pyebridge Project – production site), Bordersley Power Ltd (Bordesley Project – development site) and Rochdale Power Ltd (Rochdale Project – development site) respectively.
MED will provide reserve power solutions that are flexible, respond immediately to demand and create multi- stream revenues. Targeting this market, MED is structured to acquire, own develop and operate a portfolio of projects of flexible, small scale, multiple reserve power generation plants throughout the UK totalling c. 30 – 40MW by the end of its first year, building a fleet of up to 300 MW installed safe and clean power through natural gas.
Aligned with UK policy to ensure availability and stability of energy on national scale, MED is establishing this UK – wide fleet of generators to enter the forward energy market through a PPA with market trader, Statkraft Markets GmbH.
MED represents an attractive investment case with anticipated low-risk IRRs of over 15%.