Ampeak Energy (LON:AMP) has announced a significant change to its shareholder register, a move that the latest research note from Longspur Research views as a clear positive for the company’s future direction.
In its note dated 17 February 2026, Longspur highlights that the 29.6 percent shareholding previously held by SIMEC UK Energy Holdings has been acquired by Patrick Joseph Hughes, the sole owner of Valencia Energy. The broker sees this transition as an encouraging development for the business.
Research analyst Adam Forsyth states, “The removal of a potential share overhang and replacement with an aligned shareholder with a detailed understanding of the clean energy environment in the UK is a positive move in our view.”
CEO Welcomes New Shareholder
Graham Reid, Ampeak Energy CEO, also welcomed the development, commenting:
“We are pleased to welcome Patrick as a substantial Ampeak Energy shareholder, and we look forward to engaging with him and his team in due course. We are now entering an exciting new chapter in our journey to develop, own and operate sustainable energy projects for the benefit of our shareholders and our planet.”
The statement underlines the board’s view that the new shareholding structure supports the company’s long term strategy and strengthens its position as it advances key projects.
A Clean Energy Specialist Steps In
According to the research note, Valencia Energy is a UK renewable power company focused on operating and maintaining landfill gas collection systems and power generation equipment, while expanding into solar and battery energy storage systems, known as BESS.
Longspur explains that Valencia manages and optimises generation from landfill gas engines, natural gas engines and solar installations, and is deploying battery storage. The broker describes this as “clearly an aligned shareholder with shared aims to Ampeak and the transfer of shares removes what had been seen as a share overhang in some quarters.”
This alignment is particularly relevant given Ampeak’s own strategy as a developer, owner and operator of sustainable energy projects, with a strong focus on grid connected battery storage and tidal energy.
Strategic Focus on Storage and Grid Connectivity
Ampeak’s portfolio includes key sites in Wales and Caithness, Scotland, where it is seeking to unlock value through grid connectivity. The Uskmouth Sustainable Energy Park, the site of the former Uskmouth coal power station, is being redeveloped to host battery energy storage system projects. The company is also progressing opportunities linked to its MeyGen tidal project.
Longspur’s bull points include:
- Portfolio of grid connected sites suitable for BESS deployment
- Successful development and sale of first BESS project
- Second project under construction
As renewable energy penetration increases in the UK, the need for storage rises in tandem. This trend underpins Ampeak’s focus on battery projects, which are designed to capture value from improving storage economics.
Valuation Perspective
Longspur sets out a central valuation of 11.1p per share based on a discounted cash flow model, incorporating the roll out of grid connected BESS capacity and income from the existing MeyGen tidal turbines.
The research also outlines a low case valuation of 3.0p per share and a high case of 12.5p, reflecting different assumptions around asset values, funding structures and the potential contribution of the company’s c.800MW BESS pipeline.
Financial Snapshot
Longspur’s forecasts indicate:
- 2024 revenue of £14.4m, with 2025 estimated at £15.0m
- EBITDA of £7.9m in 2024, with variability expected as projects progress
- Net debt of £54.4m at end 2024
- No dividend currently forecast
The model anticipates income contributions from AW1 and further development activity over the forecast period, alongside continued investment in battery assets.
Final Thoughts
The latest research note from Longspur Research presents the arrival of Patrick Hughes as a constructive and strategically aligned development for Ampeak Energy. With a clean energy specialist now holding a significant stake, and with management signalling an “exciting new chapter” in its sustainable energy journey, the company continues to advance its battery storage and tidal ambitions within a supportive UK renewables backdrop.
