Igas Energy PLC MoU with SSE Heat Networks Limited (2238M)
20 Septiembre 2021 - 1:00AM
UK Regulatory
TIDMIGAS
RNS Number : 2238M
Igas Energy PLC
20 September 2021
20 September 2021
IGas Energy plc (AIM: IGAS) ("IGas" or "the Company")
Memorandum of Understanding ("MoU") with SSE Heat Networks
Limited ("SSE") for roll-out of geothermal district heating
project
IGas, through its wholly owned subsidiary GT Energy UK Limited
("GTE"), has signed a MoU with SSE for the development of a
geothermal district heating project in the City of Stoke-on-Trent
("the Project").
SSE will develop and deliver a district heating network in
Stoke-on-Trent working with GTE and Stoke-on-Trent City
Council.
The MoU grants exclusivity to each of SSE and GTE with regard to
the Project for a period of 12 months with certain milestones
including executing a heat offtake agreement in relation to GTE's
future geothermal plant.
Giles Newton, Head of Business Development for SSE Energy
Solutions, said:
"We are delighted to announce our partnership with GT Energy
which will help us to fully explore the feasibility of providing
heat offtake from their future geothermal project in the Stoke
area. We have proven expertise in the sector, with our 19 existing
UK heat network sites, and we believe that geothermally sourced
energy will play a vital role in decarbonising heat, as well as
having the potential to tackle 'hard to decarbonise' process heat.
We look forward to developing the Stoke City project with GT Energy
over the next 12 months".
Stephen Bowler, IGas CEO, added:
"We are delighted to be working with SSE as we seek to deliver
this flagship renewable project for the city of Stoke-on-Trent. SSE
is leading the way in developing the low-carbon assets and
infrastructure required for the UK to reach its target of net zero
emissions by 2050.
We are also working closely with other energy providers on a
number of district heat networks in other cities.
Both the BGS report and the ARUP report, published in May this
year, support the need for deep geothermal in the Government's
energy policy for the next 30 years, but with real and tangible
benefits in the immediate future. Deep geothermal has the potential
to become a world leading industry here in the UK, provide a stable
transition away from oil and gas, and help meet the Government's
net zero ambitions by decarbonising heat on a mass scale. It would
also create 1,000s of new jobs and generate tens of millions of
pounds in new investment."
For further information please contact:
IGas Energy plc Tel: +44 (0)20 7993 9899
Stephen Bowler, Chief Executive Officer
Ann-marie Wilkinson, Director of Corporate Affairs
Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44
(0)20 7597 5970
Sara Hale/Jeremy Ellis/Virginia Bull
Canaccord Genuity (Joint Corporate Broker) Tel: +44 (0)20 7523 8000
Henry Fitzgerald-O'Connor/James Asensio
Vigo Consulting Tel: +44 (0)20 7390 0230
Patrick d'Ancona/Chris McMahon/Kendall Hill
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEAKNNFDXFEFA
(END) Dow Jones Newswires
September 20, 2021 02:00 ET (06:00 GMT)
Igas Energy (LSE:IGAS)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Igas Energy (LSE:IGAS)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024