08 NOV 2022

MYTILINEOS on the forefront for UK’s energy transition

Athens, Greece - 8 November 2022 - MYTILINEOS (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) through its Renewables & Storage Development Business Unit (RSD) announces a new storage portfolio of 367.5MW for long time business partner Gresham House in the United Kingdom.

Specifically, the portfolio involves the engineering, procurement and construction (EPC) of Battery Energy Storage Systems (BESS), and it is consisted of 7 new projects:

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The projects are in different stages of implementation, while they are expected to reach Commercial Operation Date (COD) gradually by the end of 2023.

BESS systems support increased penetration and optimization of the operation of renewables into the energy mix, providing ancillary services necessary to ensure the reliability and stability of the grid. They are widely considered as an integral part towards a successful energy transition.

Nikos Papapetrou, General Manager of the RSD Business Unit stated: “MYTILINEOS leverages on its leading European position in storage projects and continues its successful cooperation with Gresham House for a vast portfolio that will significantly aid UK’s energy transition, especially today, that the need for sustainable green energy is more crucial than ever”.

The total contract price for MYTILINEOS will reach the amount of € 250.000.000.

With the completion of those projects, MYTILINEOS’ RSD Business Unit will have  successfully constructed and commissioned in United Kingdom over 710 MW of BESS projects with more than 1.15 GWh of lithium batteries, Furthermore, the Company has in development 707 MW of BESS across Italy, Spain and Australia and the target is to further expand by reaching 1.7 GW, positioning itself as one of the leading providers for utility scale battery energy storage systems in Europe.

Alongside these storage projects, the RSD Business Unit has signed engineering, procurement, and construction (EPC) contracts for leading global solar developer Lightsource BP for two UK solar parks whose contract price is over € 35,000,000 in total.; Northfield and Street Field 50MW that has already reached commercial  operation and Tiln 61.5MW -Lightsource BP’s  largest solar farm in the country - that is expected to be energized by the second half  of 2023.

MYTILINEOS has a long-term relationship with Lightsource BP in United Kingdom, having provided EPC services in 22 different projects with overall capacity of more than 310 MW.

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