Quantum Data Energy (LSE:QDE) said construction of the Bordesley 5 MW FlexGen project has commenced at pace, with commercial operations targeted for Q4 2026.
It will be QDE's third flexible generation asset to enter construction, with PBS providing 65% equity at SPV level and QDE 35%.
Construction contracts for civils, electrical, genset and gas packages were placed in March. Two Caterpillar G3520K gensets and the project transformer were ordered on c.20-week lead times for early August delivery, off‑site gas pipework runs through early June, and the DNO works target HV energisation in August.
The company says the project remains within its approved capex budget of £3.6m and civils mobilisation is scheduled for May with site works through July.
"Our partnership with Power Balancing Services validates QDE's capital‑light scaling model, allowing us to retain meaningful equity exposure to a cash‑generative asset while limiting dilution for our shareholders," Pieter Krügel, CEO, said.
QDE says it hopes to be able to announce project‑level debt financing in the coming weeks.
