EnergyPathways Secures Contract for MESH Energy Storage Project
Why we think this is good
The RNS announcement highlights EnergyPathways' progress in securing a key contract for its MESH energy storage project, which is a strategically important initiative for the company. The contract with Zenith Energy, a well-established service provider, suggests the project is moving forward and the company is aligning with experienced partners to execute it. While the financial details are not disclosed, the scale and long-term potential of the MESH project are positive indicators, and the company's use of an outsourced contractor model suggests it is managing the project's costs and risks effectively.
Key Points
- EnergyPathways has awarded a contract to Zenith Energy for well engineering services on the MESH energy storage project
- MESH is expected to be the UK's largest integrated energy storage facility, with the ability to store up to 20 TWh of energy
- The project is intended to support the UK's 2030 Clean Power timeline and ensure a reliable and secure energy supply
- EnergyPathways is using an outsourced contractor model to manage the MESH project, aligning with experienced partners
Summary
EnergyPathways (AIM: EPP) has awarded a contract to Zenith Energy, a well engineering and project management company, to provide well engineering services for its MESH energy storage project. MESH is expected to be the UK's largest integrated energy storage facility, combining natural gas, compressed air, and hydrogen storage, with the ability to store up to 20 TWh of energy. The project is intended to deliver on the UK government's 2030 Clean Power timeline and ensure a reliable and secure supply of energy for the UK. EnergyPathways is using an outsourced contractor model to manage the costs and risks of the MESH project, aligning with experienced partners like Zenith Energy.