StockMarketWire.com - Alternative energy group Simec Atlantis Energy said it had agreed to sell 25% of a project in Wales to fund manager Equitix for £32.9m.

The deal implied an equity value on the 220 megawatt Uskmouth conversion project in Newport of £131.5m.

The investment was conditional on Equitix completing confirmatory due diligence and agreeing satisfactory transaction documentation.

Completion of the transaction was expected in the first half of 2019.

The existing Uskmouth coal-fired power plant would be converted to generate electricity from 100%-waste derived energy pellets.




At 9:22am: [LON:SAE] Simec Atlantis Energy Limited Ord Npv Di share price was +2.63p at 17p



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