Shares in eEnergy PLC rose 13% after it announced a £3 million contract with Tudor Grange Academies Trust (TGAT) for onsite solar energy generation.
The contract will result in £1.9 million in revenues for eEnergy, recognised across fiscal years 2023 and 2024.
TGAT is a multi-academy trust of 12 schools in the West Midlands and an existing customer of eEnergy.
The company will offer TGAT a fully funded 10-year service agreement that requires no upfront investment, providing significant long-term savings.
The project is expected to enable TGAT to self-generate around 30% of its energy needs and export unused energy to the grid for additional income.
At 8.59 am, the stock was changing hands for 5.88p, up 0.68p.