Ampeak Energy has secured a £7.8 million strategic investment in its AW1 battery storage project at Uskmouth, while its larger AW2 project has already received planning permission.
JBR Energy Holdings Ltd, a special purpose vehicle owned by directors of Jones Bros. Ruthin (Civil Engineering) Co. Limited, has acquired a 24.7% stake in AW1 Storage Holdings Ltd from Ampeak. Jones Bros is also the principal construction contractor for AW1.
The £7.8 million consideration includes £3.9 million for equity in AW1 Storage Holdings and £3.9 million for the acquisition of a shareholder loan to AW1 Energy Storage Limited. Ampeak retains a 50.6% majority interest in AW1 Storage Holdings following the transaction.
The deal provides Ampeak with additional capital while allowing it to retain control of the project. £3.9 million of the proceeds has been ringfenced for the planned expansion of AW1 under arrangements agreed with Cardiff Capital Region.
AW1 is currently designed as a 120MW/240MWh battery storage project. Ampeak plans to increase its storage capacity to 480MWh, with financial close for the expansion expected in 2027 after the first phase enters commercial operation.
The ringfenced capital is expected to fund a significant part of Ampeak’s equity contribution to the expansion. This reduces the amount of additional capital that may need to be committed at the next stage of development and gives the company greater flexibility over the remaining proceeds.
Construction of the first phase is already under way, with Jones Bros responsible for balance of plant and electrical works. Grid connection has been scheduled for October 2026, with full commercial operations expected in the first quarter of 2027.
Ampeak Energy Limited (LON:AMP) a developer, owner and operator of sustainable energy projects. Transitioning to become a major Independent Power Producer (IPP) with a project development arm specialising in Battery Storage and Tidal Stream generation.
