Plutus PowerGen PLC Second UK Flexible Energy Site Commissioned (6357W)
November 16 2017 - 1:00AM
UK Regulatory
TIDMPPG
RNS Number : 6357W
Plutus PowerGen PLC
16 November 2017
Plutus PowerGen Plc / Ticker: PPG / Index: AIM
16 November 2017
PLUTUS POWERGEN PLC ("PPG" or the "Company")
SECOND UK FLEXIBLE ENERGY SITE COMMISSIONED
Plutus Powergen Plc, the AIM listed power-company focussed on
the development and operation of flexible energy generation
('FlexGen') projects in the UK, has brought the 20MW FlexGen
facility in Crumlin, South Wales, into operation to help to
mitigate the current and forecast risk of an energy deficit. This
is the Company's second operating power generation site, which can
be switched on at a moment's notice at times of peak demand.
The Crumlin site holds a capacity mechanism contract for 15
years starting in 2019 and is pre-qualified for next year's T-1
2018 capacity mechanism auction. Crumlin is one of nine sites held
in partnership with Rockpool Investments LLP ('Rockpool'), which
has provided funding for their development for which Rockpool also
pays management fees to PPG in return for PPG overseeing the
construction of the assets and for managing them on an ongoing
basis.
Charles Tatnall, Executive Chairman of PPG, said: "As winter
kicks in, so too does the need for increased energy and responsive
flexibility within the UK power market. PPG is focused on providing
responsive and flexible generation through rapid-response FlexGen
facilities. We are delighted that the Crumlin site has been
commissioned on target and look forward to updating the market on
further sites in the near future."
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the
publication of this announcement via a Regulatory Information
Service ('RIS'), this inside information is now considered to be in
the public domain.
**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
Andrew Craig Cantor Fitzgerald Tel: +44 (0) 20
Europe 7894 7000
Richard Salmond Cantor Fitzgerald Tel: +44 (0) 20
Europe 7894 7000
Isabel de St Brides Partners Tel: +44 (0) 20
Salis Limited 7236 1177
Olivia Vita St Brides Partners Tel: +44 (0) 20
Limited 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 due to the continued
downward pressure on capacity available to National Grid to balance
supply and demand, leading to its 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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