Plutus PowerGen PLC Planning Permission Granted for 40MW (4211F)
28 July 2016 - 12:13AM
UK Regulatory
TIDMPPG
RNS Number : 4211F
Plutus PowerGen PLC
27 July 2016
Plutus PowerGen plc / Ticker: PPG / Index: AIM
27 July 2016
This announcement contains inside information
Plutus PowerGen plc ('PPG' or 'the Company')
Obtains Planning Permission for Two 20MW Flexible Stand-by Power
Generation Sites
Plutus PowerGen plc is pleased to announce that it has received
planning permission for two 20MW flexible stand-by power generation
sites in Ipswich. These sites are equity funded by Rockpool
Investments LLP.
With planning permission now obtained for a total of 40MW at the
sites in Ipswich, preparations for the civil construction phase of
these projects can now commence. The sites will be eligible for
prequalification to the capacity market and it is expected that
power generation from these sites will commence in 2017.
The Company also has three further planning permission
applications for sites capable of producing 60MW in the planning
process and applications for two additional sites are currently
being prepared for submission.
Phil Stephens, PPG CEO said "We are very pleased to announce
that two further sites totalling 40MW have been granted planning
permission. This is a significant step towards the Company's aim of
delivering 200MW of capacity by the end of 2017."
**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 Tel: +44 (0)
Finance LLP 20 3470 0470
---------------- -------------------- --------------
Laura Harrison SP Angel Corporate Tel: +44 (0)
Finance LLP 20 3470 0470
---------------- -------------------- --------------
Elisabeth St Brides Partners Tel: +44 (0)
Cowell Ltd 20 7236 1177
---------------- -------------------- --------------
Hugo de Salis St Brides Partners Tel: +44 (0)
Ltd 20 7236 1177
---------------- -------------------- --------------
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 by the
end of 2017 and currently has a project pipeline of potential
development sites with 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
MSCZDLFLQDFFBBL
(END) Dow Jones Newswires
July 27, 2016 10:13 ET (14:13 GMT)
Plutus Powergen (LSE:PPG)
Historical Stock Chart
From Apr 2024 to May 2024
Plutus Powergen (LSE:PPG)
Historical Stock Chart
From May 2023 to May 2024