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LONDON - Active Energy Group Plc (AIM:AEG) has signed agreements for three renewable energy projects with a combined capacity of approximately 350 kilowatts, the company announced Monday in a press release statement.
The renewable energy and clean technology company said these initial projects are expected to generate around £1.5 million in revenues over their lifetime, with an anticipated payback period of about eight years.
According to the company, these projects represent the first phase of a planned 10-site pipeline with a combined capacity of approximately 2.3 megawatts, which is expected to generate more than £10 million in contracted revenues under long-term Power Purchase Agreements.
Bryan Glendinning, Solar and Battery Advisor to AEG, described the signing as "an exciting milestone" that delivers "strong long-term contracted revenues and validating our development model."
The company stated it is at an advanced stage in finalizing lease agreements and Power Purchase Agreements across the remainder of the pipeline, with further announcements expected soon.
Active Energy Group also mentioned it has identified a broader pipeline of more than 30 megawatts of rooftop, ground-mounted, and battery storage opportunities to support its expansion in the renewable energy sector.
The company did not disclose specific locations of the three projects or provide details about the types of renewable energy technology being deployed.
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