Mast Energy Developments PLC (GB:MAST) has released an update.
Mast Energy Developments PLC has reported steady progress in the refurbishment of the Pyebridge site’s power generation assets, with the first genset’s overhaul nearing completion and expected to start generating revenue by the end of June 2024. The company anticipates similar success with the remaining gensets, contributing to a secure revenue stream from capacity market contracts and a power purchase agreement with Statkraft. These developments are part of MED’s strategy to bolster long-term profitability through guaranteed income and operational optimization.
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