Plutus PowerGen PLC Obtains Planning Permission for 20MW Site (3660F)
11 Noviembre 2015 - 6:00AM
UK Regulatory
TIDMPPG
RNS Number : 3660F
Plutus PowerGen PLC
11 November 2015
Plutus PowerGen plc / Ticker: PPG / Index: AIM
11 November 2015
Plutus PowerGen plc ('PPG' or 'the Company')
Obtains Planning Permission for 20MW Flexible Stand-by Power
Generation Site
Plutus PowerGen plc is pleased to announce that it has received
planning permission for a 20MW flexible stand-by power generation
site in Crumlin, South Wales. This achievement demonstrates the
positive progress being made in respect to developing the Company's
project pipeline, which comprises sites with over 700MW of power
generation capacity in the UK. The Company also has seven further
planning permission applications for sites capable of producing
120MW at various stages in the planning process.
With planning permission now obtained for the site in Crumlin,
preparations for the civil construction phase of the project can
now commence. It is expected that power generation will begin in
2016. Importantly, this means the Crumlin 20MW site is eligible to
tender to provide future power capacity in the UK capacity
mechanism auction in 2015.
Phil Stephens, CEO said "This is further good news for us and we
look forward to updating the market on the progress of our pipeline
in due course."
**ENDS**
For further information, please visit www.plutuspowergen.com, or
contact:
Charles Tatnall Plutus PowerGen Plc Tel: +44 (0) 20 3705
8350
Phil Stephens Plutus PowerGen Plc Tel: +44 (0) 20 3705
8352
--------------------------- ---------------------
Ewan Leggat SP Angel Corporate Finance Tel: +44 (0) 20 3470
LLP 0470
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Laura Harrison SP Angel Corporate Finance Tel: +44 (0) 20 3470
LLP 0470
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Felicity Winkles St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
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Elisabeth Cowell St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
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Notes to Editors
Plutus PowerGen plc is an AIM listed company focused on the
development, construction and operation of flexible stand-by power
generation sites in the UK. At present, the market dynamics for
flexible power generation are positive as a result of the continued
downward pressure on capacity available to National Grid to balance
supply and demand, leading to their announcements about possible
power shortages over the next few years.
Flexible Power generators such as PPG offer a viable and timely
solution to the power capacity shortfall in the UK. To this end,
PPG is initially focusing on delivering 200MW of capacity over the
next three years and currently has a project pipeline of potential
development sites with over 700MW of power generation capacity.
PPG has a straightforward multi-revenue stream model with large
and stable counter-parties and is using project/EIS funding through
SPVs to finance construction of the generation assets. This
structure has the benefit of limiting dilution to plc shareholders
as the assets are financed and built.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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