Business
MED Completes Acquisition of Rochdale Power Ltd
MED Completes Acquisition of Rochdale Power Ltd.
About this update from Quantum Data Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2516O\n Mast Energy Developments PLC\n 07 October 2021\n \n \n \n \n Mast Energy Developments PLC \n \n \n (Incorporated in England and Wales) \n \n \n (Registration Number: 12886458)\n \n \n Share code on the LSE: MAST\n \n \n ISIN: GB00BMBSCV12\n \n \n (\"MED\" or \"the Company\")\n \n \n \n \n \n 07\n \n October\n \n 2021\n \n \n \n \n \n Mast Energy Developments Plc (\"MED\" or \"the Company\")\n \n \n \n \n \n MED Completes Acquisition of Rochdale Power Limited \n \n \n \n \n \n Mast Energy Developments Plc, the UK-based multi-asset operator in the rapidly growing Reserve Power market, is pleased to announce that it has exchanged final documentation and completed (\"the Completion\") the definitive Sale and Purchase Agreement for Rochdale Power Limited (\"Rochdale\") announced on 16 August 2021. \n \n \n The transactional rationale and the technical and financial merits of the project are outlined in the Company's RNS of 16 August 2021.\n \n \n \n \n \n Louis Coetzee, non-executive chairman, said: \n \"Rochdale is the third site (after Bordesley and Pyebridge) in \n MED's \n g\n r\n o\n w\n i\n n\n g\n \n po\n r\n t\n f\n o\n l\n i\n o\n \n o\n f\n \n fl\n e\n x\n i\n b\n l\n e\n \n po\n w\n e\n r\n \n p\n l\n a\n n\n t\n s\n \n i\n n\n \n t\n h\n e\n \n U\n K and brings its total generating capacity currently under active development / construction to 18.4 MW. Completion of the Rochdale transaction is yet another step in MED's clear strategy to establish a portfolio of reserve power plants in aggregate \n of \n 300 MW generating capacity in the UK. \"\n \n \n \n \n \n This announcement contains inside information for the purposes of the UK version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (\" UK MAR\"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n ENDS\n \n \n For\n \n further\n \n information\n \n please\n \n visit\n \n \n \n www.med.energy\n \n \n \n \n \n or\n \n \n \n \n \n con...