Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) told investors it has secured its first three renewable energy projects.
It has signed agreements for the projects, working with solar and battery advisor, Bryan Glendinning, with the ventures expected to have a combined generation capacity of approximately 350kW.
The solar sites are projected to deliver £1.5 million of revenue over their contracted lifetimes. It is seen as the initial phase of a broader 10-site pipeline, with a total planned capacity of 2.5MW, which would generate in excess of £10 million of revenue, it added.
"The signing of these first three sites is an exciting milestone for AEG, delivering strong long-term contracted revenues and validating our development model. These projects show the opportunities available to scale this business rapidly," Glendinning said.
"AEG is positioning itself to become a meaningful player in the renewable energy sector. I look forward to working with the team to deliver further projects and build a substantial, income-generating portfolio for the Company and its shareholders."