Mast Energy Developments PLC (LSE:MAST) shares climbed in Tuesday's trade, after it outlined plans to supply up to 1GW of electrical power to support AI data centre operations in the UK and Ireland.
The company told investors it is targeting sites with direct access to high-voltage transmission networks and has submitted several grid applications with delivery targets as early as 2026.
MAST said the expansion aligns with rapidly growing demand from hyperscalers and AI enterprises for reliable, high-capacity electricity infrastructure.
The company has also held “encouraging discussions” with multiple hyperscale end-users and data centre developers.
"We are enthusiastic about our new AI data centre power supply strategy," chief executive Pieter Krügel said.
"The board believes that the AI datacentre growth will be a significant part of the UK economy in future, and MAST is uniquely positioned to be a leading provider of power supply to the rapidly growing number of AI datacentres."
Krügel added: "The MAST Board and Management have carefully crafted this new strategy, and will focus on and expedite the delivery thereof, as we believe that it will be a major driver of MAST's growth going forward."
In London, Mast shares were up 7.7% changing hands at 113.1p, and earlier this morning saw 115p.