Mast Energy Developments PLC announced an update regarding business operational matters. Pyebridge: Further to the company's previous announcement dated 28 February 2024, the MED management team successfully completed the initial work programme ahead of schedule at its Pyebridge 9MW flexible power generation asset (Pyebridge), with the site now officially back into operation. Resultingly, MED was able to schedule and perform the minimum 3x separate generation runs ahead of schedule to meet its Satisfactory Performance Days (SPD) requirements that are due by the end of April 2024 under its existing T-1 Capacity Market contract (the CM Contract).

Hindlip and MED's other existing sites: Initial pre-construction work at Hindlip was successfully completed to satisfy planning consent requirements. As a result, the site's Certificate of Lawful Commencement has been granted. The following MED sites, Hindlip (7.5MW), Bordesley (4.5MW) and Rochdale (4.5MW) are each construction-ready, with all required key cornerstones of a flexible generation site in place and in good standing, most notably fully specified EPC and O&M offers, planning consent, gas connection offer, grid connection offer and construction management plan.

Subject to capex funding, these sites will immediately continue with the construction phase with an expected timeline to commercial operations date of around 12 months from receipt of funding, to go into production and revenue generation.