Plutus Powergen gets planning permission for another 'FlexGen' site
(ShareCast News) - Flexible energy generation company Plutus Powergen announced that it has received planning permission to develop a further two 20MW renewable green diesel powered FlexGen sites at the Marchwood Industrial Estate in Marchwood.
The AIM-traded firm said that would bring the total number of 20MW sites which had planning permission to nine - equal to 180MW.
PPG's board said its current focus was on the completion of the roll out of the nine 180MW of renewable green diesel FlexGen sites with Rockpool Investments, and the development of approximately 200MW of gas-fired FlexGen projects across the UK.
The company currently has one site in operation, with five due to be commissioned by the end of 2017, and had submitted planning applications for the construction of another four gas fired sites.
"The granting of a further two sites underlines the excellent progress we are making in delivering our commercial objectives in the provision of FlexGen power facilities across the UK," said chairman Charles Tatnall.
"We have nine sites being advanced with funding partner Rockpool, and with five more close to being in operation, we expect a significant transformation in what is already a profitable business.
"With the roll out of the gas sites, in which we will maintain a larger percentage of than the green diesel sites, plus our recent expansion into the emerging battery energy storage arena we are extremely excited about the company's future and its role in the UK energy matrix."
PPG's board said each FlexGen site could be switched on at a moment's notice at times of peak demand, and help to mitigate the current and forecast risk of an energy deficit.
Due to "inherent demand" in the UK, PPG said it had developed a pipeline of projects with capacity for over 700MW, and was targeting 120MW to be operational with an additional 120MW at the post-planning stage by the end of 2017.