Eight-year electricity transmission agreement

Van Elle Holdings PLC

20 January 2025

 

20 January 2025

Van Elle Holdings plc

('Van Elle', the 'Company' or the 'Group')

Partnering agreement with Wood for delivery of electricity transmission schemes

Van Elle Holdings plc (AIM: VANL), the UK's largest ground engineering contractor, announces that it has signed an eight-year partnering agreement with Wood Transmission & Distribution Limited ("Wood") to deliver ground investigation, design and construction activities for piling and foundations across several transmission schemes as part of Ofgem's Accelerated Strategic Transmission Investment (ASTI) programme¹.  Subject to performance, the partnership is expected to be worth in excess of £30m to Van Elle over that period.

Works have commenced on initial projects in New Cumnock, Argyll and most recently at Beauly-Loch Buidhe where ground investigation works are mobilising throughout January for 240 towers to be constructed in 2026-27.

Chief Executive, Mark Cutler, commented: "Wood has been a long-standing customer for Van Elle, so we are delighted to announce this partnering agreement to help deliver part of the significant scale of energy infrastructure in Scotland together over the coming years.  Our breadth of capability allows us to integrate ground investigation, design and piling and foundation solutions best suited to the project requirements.  Initial works have commenced, and activity levels will now increase as other schemes are mobilised across Scotland. 

"Our recent acquisition of Albion Drilling based in Stirling will support with a local resource base and specialist skills needed to deliver these important commitments, often in remote and challenging locations.

"This agreement is the first of a number that we anticipate in this growing sector; reinforcing our confidence in our medium-term ambitions."

¹:https://www.ofgem.gov.uk/decision/decision-accelerating-onshore-electricity-transmission-investment

For further information, please contact:

Van Elle Holdings plc Mark Cutler, Chief Executive Officer Graeme Campbell, Chief Financial Officer	Via Walbrook
Peel Hunt LLP (Nominated Adviser and corporate broker) Ed Allsopp Charlotte Sutcliffe Tom Graham	Tel: [phone]
Walbrook PR Limited	Tel: [phone] or [e-mail]
Tom Cooper Nick Rome	07971 221 972 07748 325 236

About Van Elle Holdings plc:

Van Elle Holdings is the UK's largest specialist geotechnical engineering contractor. Formed in 1984 and listed on AIM in 2016, the Company provides a wide range of ground engineering techniques and services including ground investigation, general and specialist piling, rail geotechnical engineering, modular foundations, and ground improvement and stabilisation services.

Van Elle operates through three divisions: General Piling, Specialist Piling and Rail, and Ground Engineering Services; and is focused on diverse end markets including residential and housing, infrastructure and regional construction - across which the Group has completed more than 20,000 projects over the last 35 years.

 

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