SAE Renewables MeyGen Phase 1 tidal array continues to break records

28th September 2024

SAE Renewables Limited (LON:SAE) has announced its unaudited interim results for the six months ended 30 June 2024.

Key Highlights

· SAE received £7.0 million from the land sale contract with EL (Uskmouth) Ltd.

· SAE acquired 100% ownership of the AW1 120MW/240MWh Battery Energy Storage System ("BESS") project

· SAE submitted a planning application for Section 36 consent for the 300MW/1.2GWh "Mey BESS" project in the North of Scotland.

· The consolidated cash position of the Group as at 30 June 2024 was £7.7 million (as at 30 June 2023: £2.3 million)

· The Group reported revenues of £12.1 million for the six months ended 30 June 2024 compared to revenues of £12.4m for the same period in 2023.

Read the full report HERE