Business
Business Update
Business Update.
About this update from Quantum Data Energy Plc
[{"type":"text","content":"\n\nMast Energy Developments PLC\n(Incorporated in England and Wales)\n(Registration Number: 12886458)\nLEI :213800HFVHGJ9YGO9F71\nShare code on the LSE: MAST\nISIN: GB00BMBSCV12\n('MED' or 'the Company')\n \nDated: 20 August 2024\n \nMast Energy Developments PLC ('MED' or 'the Company')\n \nPyebridge 2nd Genset Overhaul Commences and Application for Increased CM Contract\n \nMast Energy Developments PLC is pleased to announce the official commencement of the 2nd genset overhaul, and application for an increased Capacity Market contract at its Pyebridge flexible power generation asset (\"Pyebridge\"). The details of the foregoing are set out below.\n \nPyebridge Key Highlights\n \n· First refurbished genset achieving c. £57k revenue in its first month of operation paved the way for 2nd genset overhaul;\n· Pyebridge signed Engineering Works contract for 2nd genset's overhaul; and\n· 2nd genset overhaul enables Pyebridge to apply for enhanced capacity CM contract.\n \nFurther to the Company's previous announcement dated 7 August 2024, following the successful completion of the refurbishment of the first of the Pyebridge site's 3x 2.7MW Jenbacher gensets (thus 8.1MW generation capacity in total), and the resulting first refurbished genset achieving c. £57k revenue (or c. £21k per MW month) in its first month of operation (inclusive of initial ramp-up period), Pyebridge has signed an Engineering Works contract with the Pyebridge site's O&M contractor, Cooper Östlund regarding the full long-block overhaul of the 2nd genset, and certain further essential improvements to the site.\n \nIn addition to the expected enhanced revenue generation via Pyebridge's PPA with Statkraft, the overhaul of the 2nd genset enables, and it is expected that Pyebridge will apply for its next T-1 CM contract in the upcoming CM pre-qualification assessment window and subsequent bid auction for the 2025/2026 delivery year, at an enhanced generation capacity, which will result in increased contractual gross profit margin income received from that contract.\n \nOnce the work on the 2nd genset has been completed, Pyebridge will have 2x 2.7MW completely refurbished gensets operating and generating at optimum capacity and performance...