RedT Energy PLC Update on flagship South African mini-grid project (6023G)
March 05 2018 - 1:00AM
UK Regulatory
TIDMRED
RNS Number : 6023G
RedT Energy PLC
05 March 2018
This announcement contains inside information
5 March 2018
redT energy plc
("redT" or the "Company")
Update on flagship South African mini-grid project
South Africa's largest installed flow machine connects to the
grid
redT energy plc (AIM:RED), the energy storage technology
company, is pleased to announce that its 15kW-75kWh energy storage
machine is now fully operational at the Thaba Eco Hotel ("Thaba")
site in South Africa. This is the third commercial energy storage
machine redT has connected to the grid in South Africa.
The Thaba project is the largest flow machine to be successfully
installed at a commercial site as part of a solar mini-grid system
in South Africa. Thaba is a remote resort and suffers from a weak
local grid connection, making power cuts a frequent occurrence. The
machine sits alongside Thaba's 100kWp of solar generation, enabling
the resort to reduce its reliance on diesel generators, creating
significant savings on fuel costs and reducing carbon emissions as
a result.
By timeshifting excess energy produced from the solar panels
during the day for use at night, when guests need electricity the
most, redT are creating a cheap, reliable and sustainable source of
energy for Thaba's guests and staff.
The project has already yielded substantial results for Thaba.
Since the mini-grid system came online, it has generated 13MWh of
renewable energy, reducing the need for Thaba to import energy from
the grid, leading to significant cost savings and a sizeable
reduction in the level of greenhouse gases omitted by the resort.
The project is expected to result in 175MWh of renewable energy
generation per annum and a yearly reduction in greenhouse gas
emissions of 143 tonnes of carbon dioxide equivalent (tCO2e). In
addition to this, the machine will also be used for demand charge
avoidance, significantly reducing the site's costs of importing
electricity from the grid at peak times.
The project will be a key asset for redT in South Africa and the
site will be used to demonstrate the environmental and financial
benefits redT's patented vanadium redox flow machine technology
will offer other renewable asset owners in the region. A formal
launch event at Thaba will take place in due course, details of
which will be made available on the Company's website.
The project has been fully funded by The Energy and Environment
Partnership in Southern and East Africa. For more information on
EEP please go to: http://eepafrica.org/
For more information about the project:
https://redtenergy.com/story/solar-mini-grid-for-resort-hotel/#video
Scott McGregor, CEO, redT energy commented:
"Accelerated growth of low cost solar power in Africa has opened
up a significant market opportunity for us, as our robust energy
storage machines are an ideal solution to unlock more solar for use
by customers in off-grid or weak-grid markets. We are proud to lead
the successful deployment of flow machines into essential energy
infrastructure in Africa with our redT machines established now in
South Africa and also enroute to Botswana.
In sub-Saharan Africa alone there are c.580 million people with
no access to electricity. Unlocking more solar using robust long
duration energy storage machines is a key driver to ensuring a low
cost secure power supply to the continent of Africa.
We are very honoured to be working with our partners at the
Thaba Eco Hotel and look forward to holding a formal launch event
at the site in the future.
Reuben Louw, CEO, Thaba Eco Hotel commented:
"At Thaba, we are passionate about reducing our impact on the
local environment, making redT's flow machine technology a perfect
fit for us. This solar mini-grid system will enable us to greatly
reduce our reliance on diesel generators, which are expensive to
run and pollutive, whilst ensuring that we have a stable and
consistent supply of energy throughout the day and into the
night."
Enquiries:
redT energy plc +44 (0)20 7061 6233
Scott McGregor, Chief Executive
Officer
Joe Worthington, Investor
& Media Relations
Cenkos Securities (Nominated
Advisor & Broker) +44 (0)131 220 9100
Derrick Lee
VSA Capital (Investor Relations
Advisor)
Andrew Monk +44 (0)20 3005 5000
Celicourt Communications
(Financial PR)
Mark Antelme
Jimmy Lea
Ollie Mills +44 (0)20 7520 9266
Notes to Editors
About redT energy
redT energy plc are experts in energy storage, specialising in
the design, manufacture, installation and operation of energy
storage systems which create revenue alongside reliable, low-cost
renewable generation for businesses, industry and electricity
distribution networks. Using patented vanadium redox flow
technology to store energy in liquid, redT's own energy storage
machines can be run continually with no degradation: charging and
discharging for over 25 years, matching the lifespan of renewable
assets in on-grid, off-grid and weak-grid settings.
redT's energy storage solutions, developed over the past 15
years, address today's changing energy market by providing a
flexible platform for time shifting surplus renewable power,
securing electricity supplies and earning revenue through grid
services. The company has operating machines deployed with
customers in the UK, Europe, sub-Saharan Africa, Australia and Asia
Pacific. redT energy plc is listed on the London Stock Exchange
(AIM:RED) and has offices in the UK, Africa and the USA. For more
information, visit www.redTenergy.com
For sales, press or investor enquiries, please contact the redT
team on +44 (0)207 061 6233.
This information is provided by RNS
The company news service from the London Stock Exchange
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