IN BRIEF: Active Energy announces latest Abu Dhabi acquisition
Active Energy Group PLC - London-based, biomass-focused renewable energy developer - Agrees terms to acquire a new non-operational energised grid connection infrastructure asset in Abu Dhabi, comprising a 1.5 megavolt-ampere grid connection and providing approximately 1.275 megawatts of available load, for total consideration of GBP850,000. This includes GBP450,000 in Active shares at 0.1 pence each, and GBP400,000 in deferred cash over a one-year period. Says the connection only requires modest upgrade works prior to the deployment of digital infrastructure. Plans to deploy its modular digital infrastructure layer following completion and minor upgrade works. This asset purchase follows Active Energy's signing binding heads of terms last week to acquire the Ghummud Site, a 3.5 MVA live grid connection asset, also in Abu Dhabi. Active on Tuesday says these two newly secured grid connections will provide approximately 5 MVA of energised capacity available for digital infrastructure deployment, leaving it with approximately 13 MVA of energised power infrastructure in total. Read More