Midweek Takeaway featuring Pieter Krugel, CEO of Mast Energy Developments (LSE:MAST)

Phil Carroll and Kevin Hornsby talk to Pieter reargding the recent company announcement of the formation of a joint venture with an institutional investor-led consortium who will inject £33.6 million into the JV, requiring no funding from MED, to develop gas peaker plants with a combined generation output of approximately 50 MW. MED has also reprofiled its existing loan facilities with an institutional lender group. Key terms of the JV include the institutional investor holding 74.9% of the JV, MED having joint control of the JV board, and a five-year management services agreement for MED to manage the sites. The JV deal is expected to be completed by mid-June 2023. The company has also secured a second advance under the terms of the development loan for £100,000 for ongoing project development costs

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