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SIMEC Atlantis Energy ( (GB:AMP) ) has provided an announcement.
Ampeak Energy has secured Section 36 consent from Scottish Ministers for its Mey BESS battery energy storage project in the north of Scotland, permitting development of a facility with up to 300MW/1,200MWh of capacity, alongside deemed planning permission under Scottish planning law. Targeting financial close in 2027/28 and operations by the end of 2029, the company plans to leverage experience from its 240MWh AW1 project at Uskmouth, with Mey BESS and its Welsh battery projects together forming a 2.93GWh portfolio of consented storage assets that strengthens Ampeak’s position in the UK’s grid-scale battery market and supports further portfolio expansion.
The most recent analyst rating on (GB:AMP) stock is a Hold with a £3.50 price target. To see the full list of analyst forecasts on SIMEC Atlantis Energy stock, see the GB:AMP Stock Forecast page.
Spark’s Take on GB:AMP Stock
According to Spark, TipRanks’ AI Analyst, GB:AMP is a Neutral.
The overall stock score is primarily influenced by the company’s strong technical momentum and positive corporate events, which are offset by significant financial challenges and poor valuation metrics. The strategic growth in battery storage projects and positive market sentiment provide a promising outlook, but financial instability remains a critical risk.
To see Spark’s full report on GB:AMP stock, click here.
More about SIMEC Atlantis Energy
Ampeak Energy is a global developer, owner and operator of sustainable energy projects, including the world’s flagship tidal stream project MeyGen and the Uskmouth Power Station site in Wales, which is being repurposed into a sustainable energy park expected to become one of the UK’s largest battery energy storage sites. The company focuses on large-scale battery storage and innovative renewable generation assets as part of its strategy to build a sustainable energy portfolio to 2035.
Average Trading Volume: 832,043
Technical Sentiment Signal: Buy
Current Market Cap: £22.05M
See more insights into AMP stock on TipRanks’ Stock Analysis page.