Business
Pyebridge Revenue Update re Refurbished Genset
Pyebridge Revenue Update re Refurbished Genset.
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: 7 August 2024\n \nMast Energy Developments PLC ('MED' or 'the Company')\n \nPyebridge Refurbished Genset Achieves c. £57k Revenue in First Month\n \nMast Energy Developments PLC, the UK-based multi-asset owner, developer and operator in the rapidly growing flexible power market, is pleased to announce an update regarding its Pyebridge flexible power generation asset (\"Pyebridge\").\n \nKey Highlights:\n \n· First refurbished genset achieves c. £56,689 revenue in first month of operation (inclusive of initial ramp-up period);\n· Refurbished genset outperforms market with 40% margin;\n· Resulting in revenue per MW month of c. £21,000; and\n· Pyebridge site has 3x 2.7MW gensets operation (thus 8.1MW total), although, to date, only one of which has been full refurbished and is operating at optimum capacity.\n \nFurther to the Company's previous announcement dated 1 July 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), the refurbished genset commenced commercial operational running on 1 July. The MED management team in conjunction with the Pyebridge site's O&M contractor have carefully monitored the refurbished genset to ensure optimal performance. An overview of the refurbished genset's maiden actual performance key data for the month of July 2024 is provided below, based on the latest available trading data.\n \n· Electricity Generation Sales Revenue (via PPA) - c. £56,689;\n· Total Electricity Generation Output - c. 581 MWh;\n· Average Electricity Generation Sales Price achieved per MWh sold - c. £98; and\n· Genset Reliability: 100%.\n \nA couple of the key highlights from July are the achieved revenue per MW month of c. £21,000 and, the achieved actual average electricity sales price per MWh sold of £98 compared to the average Wholesale Market price of £70 over the same period, which resulted in a 40% ou...