MED Completes Acquisition of Rochdale Power Ltd

RNS Number : 2516O

Mast Energy Developments PLC

07 October 2021

 

Mast Energy Developments PLC

(Incorporated in England and Wales)

(Registration Number: 12886458)

Share code on the LSE: MAST

ISIN: GB00BMBSCV12

("MED" or "the Company")

07   October   2021

Mast Energy Developments Plc ("MED" or "the Company")

MED Completes Acquisition of Rochdale Power Limited

Mast Energy Developments Plc, the UK-based multi-asset operator in the rapidly growing Reserve Power market, is pleased to announce that it has exchanged final documentation and completed ("the Completion") the definitive Sale and Purchase Agreement for Rochdale Power Limited ("Rochdale") announced on 16 August 2021.

The transactional rationale and the technical and financial merits of the project are outlined in the Company's RNS of 16 August 2021.

Louis Coetzee, non-executive chairman, said:  "Rochdale is the third site (after Bordesley and Pyebridge) in MED's  g r o w i n g   po r t f o l i o   o f   fl e x i b l e   po w e r   p l a n t s   i n   t h e   U K and brings its total generating capacity currently under active development / construction to 18.4 MW. Completion of the Rochdale transaction is yet another step in MED's clear strategy to establish a portfolio of reserve power plants in aggregate of 300 MW generating capacity in the UK. "

This announcement contains inside information for the purposes of the UK version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (" UK MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

ENDS

For   further   information   please   visit   www.med.energy or contact:

Louis Coetzee	[e-mail]	Mast Energy Developments Plc	Non-Executive Chairman
Jonathan Critchley & Keith Swann	[phone]	Clear Capital Markets	Joint Broker
Chris Hardie & Sarah Mather	[phone]	WH Ireland Limited	Joint Broker

 

END

 

 

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