Business
Ampeak Energy Interim Results
Ampeak Energy Limited announced its unaudited interim results for the six months ended 30 June 2025, reporting a loss before tax of £4.6 million, an improvement from the £6.0 million loss in H1 2024. Revenues for the period were £3.5 million, compared to £12.1 million in the prior period, which included £9.9 million from a land sale. Revenues from the MeyGen Phase 1 tidal array improved to £3.2 million, up from £1.9 million in H1 2024, with electricity generation increasing to 7.9GWh from 5.1GWh. The Group's cash position at the end of June 2025 was £5.3 million. Post-period, on August 5, 2025, the company reached financial close on the Afon Wysg 1 project with total project costs of £67.4 million, including £45.3 million from Nord/LB. Disclaimer*
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n\n26 September 2025\n\n \nAMPEAK ENERGY LIMITED\n(\"Ampeak Energy\" or the \"Company\")\n \nInterim Results\n \nAmpeak Energy announces its unaudited interim results for the six months ended 30 June 2025. A complete version of the interim results can be found on the Company website www.ampeak.energy.\n \nChairman's Statement\n \nThe Group's key focus for the first half of 2025 was on achieving financial close of the Afon Wysg 1 project (\"AW1\"), a 240 MWh Battery Energy Storage System (\"BESS\") project located at the Group's Uskmouth Sustainable Energy Park (\"USEP\"). \n \nOn 5 August 2025, post-period, we were delighted to announce that we had reached financial close of AW1. This marks a major milestone for the Group as its first battery project developed and then taken to financial close and in which it retains a majority controlling shareholding.\n \nThe total cost for the project is £67.4 million, of which £45.3 million is being provided from a project financing facility from Nord/LB, with the remainder funded by the AW1 project company shareholders. The Company is retaining a 75.3% controlling shareholding in the AW1 project company. Whilst the Group has developed a first battery project at the USEP, it divested this project in 2023 to another developer prior to financial close and has used a part of the proceeds to fund equity for the AW1 project. The AW1 project is forecast to commence operations in Q4 2026 and generate for the Group average revenues of £13 million per annum and average EBITDA of £9 million per annum in its first five full years of operation, which will be transformative for cashflows.\n \nWhilst the Group's focus during the reporting period was towards financial close of the AW1 project, progress was made in the other development projects, detailed further below, in particular the development of battery projects at the USEP and adjacent to MeyGen, as well as continuing early-stage development of other opportunities at the USEP. In light of the uncertainties created by National Grid's ongoing connections reform process, the Group has also commenced exploring battery opportunities in other markets to mitigate any delays to its existing battery project pipeline.\n \nWhilst the Group reported a loss for the six months to 30...