Shares in Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) surged as much as 30% in early trading on Tuesday after the company unveiled plans for its first pipeline of solar and battery storage projects.
The initial rollout targets 10 commercial warehouse rooftops with a combined capacity of 2.3 megawatts (MW).
AEG said it is in the final stages of securing long-term leases and power purchase agreements, which are expected to generate more than £10 million in contracted revenue over 20 years.
The announcement marks a key step in the company’s pivot to renewable energy, with chief executive Paul Elliott describing it as “a significant milestone” in AEG’s transformation.
The company is working with renewables adviser Brian Glendinning to scale the portfolio further, targeting both rooftop and ground-mounted installations.
AEG plans to own and operate the assets, providing stable, inflation-linked income streams with scope for future refinancing to support growth.
After the initial surge, the stock settled at 0.15p, up 11%.