Corcel PLC Flexible Grid Solutions Update (6857R)
08 Noviembre 2021 - 07:24AM
UK Regulatory
TIDMCRCL
RNS Number : 6857R
Corcel PLC
08 November 2021
Corcel PLC
("Corcel" or the "Company")
Flexible Grid Solutions Update
8 November 2021
Corcel Plc, ("Corcel" or "the Company"), the natural resource
exploration and development company with interests in battery
metals and flexible grid solutions, announces an update across its
UK based transitional energy project portfolio.
Tring Road 50MW / Avonmouth 50MW Gas Peaker Projects
As announced on 14 October 2021, the Company confirms that,
following a comprehensive marketing process, it is now in advanced
discussions with select investors for its Tring Road and Avonmouth
gas peaker projects. The Company is delighted to report that these
projects have attracted significant interest as they are seen as
critical to the UK's transitional energy strategy, providing
flexible energy supply to support the inherent volatility of the UK
renewables supply; particularly wind and solar.
In support of these discussions, the Company has agreed with FPC
Electric Land Ltd to extend its 100% rights over the Avonmouth
project to 1 February 2022 and is in discussions with Arlington
Energy Ltd regarding extending the option to lease the site at the
Tring Road Project, where Corcel owns 40%.
Burwell 50MW Battery Storage Project
Corcel has been informed by UK Power Networks of an extension of
its 100MW grid connection offer at Burwell beyond December 2021 and
also an extension of the Company's obligation to make any payment
at that date. This extension in part reflects anticipated grid
upgrade works that may be undertaken in the Burwell area which, if
confirmed, would affect all projects in the area and likely delay
the connection date of the Burwell site and other such sites. The
Company awaits further details regarding any works required and the
revised connection date and associated payment schedule and the
impact that may have on the Company's previously indicated target
of 2022 for the project to become operational. Meanwhile the
Company continues to explore potential partnership arrangements for
the project, including with the new site landowner.
The Company will provide additional updates on its portfolio as
appropriate.
For further information, please contact:
Scott Kaintz 020 7747 9960 Corcel Plc CEO
James Joyce / Andrew de Andrade 0207 220 1666 WH Ireland Ltd
NOMAD & Broker
Simon Woods 0207 3900 230 Vigo Consulting IR
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END
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