Pyebridge

 Refer RNS Announcements for latest updates on Pyebridge

Introduction

The Pyebridge Project (“Pybridge”) was acquired by MED in August 2021 as a fully operational gas powerd 9 MW Reserve Power site and has continued in operation since acquisition.  Pyebridge is located in Derbyshire.

Summary of Salient Project Characteristics

Power Generation Ready

  • Freehold site with established infrastructure including 9 MW grid export connection and several world-renowned OEM operating units in situ and live.
  • Permitting in place, G59 commissioned and live, Gas kiosk commissioned and live.

Revenue Creation and Commercially Attractive

  • Power Generation readiness has triggered instantaneous revenue creation.

Guaranteed Income

  • 15 year Capacity Market contract in place.

Mitigate Investment Risk

  • Materially through the acquisition of a freehold site with established infrastructure, operating engines in situ, connected to Balance of Plant as well as gas and grid connections.

Project Acceleration

  • Shared infrastructure creates an opportunity to establish Bordesley reserve power project into production resulting in significantly lower Capex than currently planned for.
  • Potential of additional 2 MW electricity export by increasing generating capacity by introduction battery storage.

Significant cost, time and CAPEX savings

  • In respect of the overall development plan for the MED reserve power portfolio as a direct result of Target 2’s competitive price, compelling economic, commercial and technical merits unique strategic fit with MED’s development strategy.

Strategic Platform

  • From which MED can significantly accelerate the development of its project portfolio by developing multiple sites simultaneously.

Rapidly Growing Target Market

  • Increasing volatility arising from structural shift from fossil fuels to renewable sources and rising spend on gas & electricity is resulting in tight capacity margins during peak times.