15 May 2025

SAE and Econergy enter into a JV to drive forward the Afon Wysg 2 (AW2) Battery Storage project at the UK leading USEP

SAE and Econergy International Limited (Econergy) have entered a strategic joint venture ("JV") to co-develop the AW2 250MW Battery Storage project at SAE's Uskmouth Sustainable Energy Park (USEP).

This partnership brings together two leaders in the renewable energy space, combining SAE's experience in developing complex renewable energy generation and battery storage projects in the UK and its ownership of the highly strategic USEP site with Econergy's deep expertise in battery storage construction, financing, and execution. Their combined experience ensures the project is well-positioned to move through the planning process and toward financial closure.

As battery technology continues to progress, the team is designing the project for a duration of up to 5 hours, bringing the project's total potential capacity to 1,250 MWh. The project aims to achieve planning permission within the next 12 months and financial close in 2027.

The AW2 project will be the third battery storage project to be delivered at the USEP, which is one of the leading battery storage sites in the UK, with over 1GW of projects either in construction or development.

SAE CEO Graham Reid commented:

"This partnership is an ideal fit for both parties and for the project. We have a clear strategy to be an independent power producer, and we are delighted to be partnering with a company that has the same strategy. We look forward to working with Econergy to deliver this exciting project for our businesses, the community and our shareholders."

Econergy Head of Energy Storage, Joshua Murphy commented:

"This JV with SAE marks a strategic milestone in Econergy's continued expansion in the UK energy storage market. As we scale our energy storage portfolio across Europe, the AW2 project reflects our commitment to building critical infrastructure that supports the UK's grid stability. Partnering with SAE at one of the UK's most advanced energy hubs reinforces our ambition to be a leading force in delivering flexible, reliable, and sustainable power solutions."

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Notes to Editors

SAE

SAE is a global developer, owner and operator of sustainable energy projects. SAE owns the world's flagship tidal stream project, MeyGen, and the Uskmouth Power Station site, that is being repurposed into a sustainable energy park that will become one of the UK's largest battery energy storage sites. https://www.saerenewables.com/

SAE recently released a video animation highlighting the scale and benefits of the USEP site. This can be viewed here

SAE's strategy: "Building a Sustainable Future to 2035", can be viewed here

Econergy

Econergy Group (TASE: ECNR) is a leading European IPP and active developer specializing in solar PV, Wind, and Energy Storage projects across key European markets, including the UK, Italy, Spain, Romania, Poland, and Greece. With a robust project pipeline exceeding ~14GW, Econergy is at the forefront of driving Europe's renewable energy transition.

The company's local teams provide a strategic advantage, ensuring close collaboration with regulatory entities and local communities. Econergy's solid strategic partnerships are key to securing project funding and further. Additionally, the company generates revenue across the entire value chain by selling electricity, earning development and operation fees, and selling projects at various stages of development, ensuring a diversified and sustainable income stream.

http://www.econergytech.com

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