The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksIGAS.L Share News (IGAS)

  • There is currently no data for IGAS

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

IGas Energy subsidiary wins contract with Salisbury NHS trust

Mon, 12th Jun 2023 12:42

(Sharecast News) - IGas Energy announced on Monday that its geothermal subsidiary GT Energy has secured a significant contract with the Salisbury NHS Foundation Trust to provide a geothermal heat solution for Salisbury District Hospital.

The AIM-traded firm said the agreement was made through the Carbon and Energy Fund (CEF) framework, with GT Energy selected as the preferred contractor for the project.

It said the next step would involves the establishment of an Innovation Partnership between GT Energy, the NHS Trust, and the CEF.

The partnership would facilitate collaboration among the parties during the project's development phases, ultimately leading to the creation of a geothermal heat plant that will supply renewable heat to the hospital on a long-term basis.

GT Energy would oversee the derisking and development of the geothermal project, starting from the initial geological feasibility assessments and continuing through the consenting process, well construction, and the establishment of the energy centre.

If everything progressed as expected, heat supply to the hospital was expected to begin in early 2026, although that timeline remained subject to the usual planning, regulatory permitting, and procurement cycles.

GT Energy was expected to be the owner and operator of the facility.

The proposed geothermal plant aimed to fulfil the hospital's entire heat requirements, which currently amounted to more than gigawatt-hours of thermal energy annually.

To fund the project, GT Energy was planning to seek support from the Public Sector Decarbonisation Scheme (PSDS) in the form of grant applications.

However, the project's progression would not be dependent on receiving a grant from the PSDS, the IGas board confirmed.

"This is an important step forward for GT Energy," said chief operating officer Ross Glover.

"The NHS 2040 net zero target places it at the forefront of decarbonising healthcare, making it the world's first national health system to commit to become 'carbon net zero', backed by clear deliverables and milestones.

"GT Energy along with the Trust and the CEF look forward to realising this project which will position Salisbury NHS Foundation Trust at the forefront of the NHS's ambition."

At 1442 BST, shares in IGas Energy were down 4.54% at 15.03p.

Reporting by Josh White for Sharecast.com.

More News
15 Nov 2016 15:00

IGas Energy gets OK for Nottinghamshire shale gas exploration

(ShareCast News) - Shale gas developer IGas Energy has been granted planning consent by Nottinghamshire County Council to drill two exploratory wells in Misson Springs, North Nottinghamshire. Chief executive officer Stephen Bowler said: "We are at a critical juncture in the future of our energy mix

Read more
15 Nov 2016 13:35

Britain's IGas receives approval for shale gas exploration permit

LONDON, Nov 15 (Reuters) - Nottinghamshire County Council gave the green light on Tuesday for shale gas developer IGas to test drill a shale gas site in northeast England in a first sign from the local authority that it supports shale gas projects. IGas' shares surged by more than a fifth

Read more
31 Oct 2016 11:54

IGas Energy keeps capital options open

(ShareCast News) - IGas Energy, British oil and gas explorer and developer, said it is continuing to discuss a range of options for its capital structure needs. The options include discussions with Bondholder Trans European Oil & Gas (TEOG) who has proposed a sale of the company's conventional asset

Read more
12 Oct 2016 07:47

IGas To Meet Bondholders As It Seeks Covenant Waivers And Formal Talks

Read more
6 Oct 2016 15:19

UPDATE 4-UK gives go-ahead to second-ever shale gas permit

* Shale gas can support 64,000 jobs, economic growth - government * UK minded to approve second Cuadrilla permit after more evidence * Economics of shale gas in UK unclear - UK Energy Research Centre * Commerical operation could start in 2018 - Cuadrilla (Updates with comments

Read more
6 Oct 2016 14:34

Egdon Resources shares rise after Springs Road planning deferral

(ShareCast News) - Egdon Resources shares were up on Thursday afternoon, after an announcement made after market close on Wednesday by IGas Energy. The announcement was over the decision of Nottinghamshire County Council's Planning and Licensing Committee in respect of the Springs Road planning appl

Read more
6 Oct 2016 14:16

UK government approves shale fracking

(ShareCast News) - The government approved horizontal fracking for the first time as a Lancashire council appeal against it was overturned on Thursday, giving a boost to companies planning similar projects in the country. Communities secretary Sajid Javid approved plans for fracking, or hydraulic fr

Read more
26 Jul 2016 14:51

IGAS Energy issues shares under incentive plan

(ShareCast News) - IGas Energy announced on Tuesday that on 25 July, a total of 502,582 shares were allotted to employees under the IGas Energy Share Incentive Plan. The AIM-traded firm said the share allotments were made with reference to the mid-market closing price for the measurement period of 1

Read more
13 Jul 2016 12:36

Brexit could provide boost for Britain's shale gas

* PM designate May prioritises energy security * Third Energy could produce first shale gas this year * Ineos promises 6 pct of shale revenue to local communities * Egdon Resources banks on big investors to take over By Karolin Schaps LONDON, July 13 (Reuters) - Brit

Read more
5 Jul 2016 14:13

Igas sheds little light on bonds transaction

(ShareCast News) - British onshore hydrocarbon producer Igas was embroiled in a secretive exchange of issued bonds this week, but the company did little to explain the situation in an update to the market on Tuesday. On Monday, Pareto Securities announced on behalf of an unnamed client that the offe

Read more
5 Jul 2016 10:10

IGas Notes Offer Accepted For Bonds From Pareto Client ALLISS)

Read more
22 Jun 2016 14:40

IGas Notes Offer For IGas Bonds From Client Of Pareto Securities (ALLISS)

Read more
14 Jun 2016 09:16

IGas Energy In Discussions Over "Earnings Accretive Transactions"

Read more
14 Jun 2016 09:02

UPDATE 1-British shale gas firm IGas Energy seeks investors

(Updates throughout) By Nina Chestney June 14 (Reuters) - Britain's largest shale gas developer IGas said on Tuesday it is in talks with a number of potential investors to strengthen its balance sheet. IGas has been cutting its debt over the last 14 months amid oil price volatil

Read more
25 May 2016 14:13

Wednesday newspaper share tips: Severn Trent, IGas

(ShareCast News) - Shares in Severn Trent are best avoided as investors´ search for yield has driven down the dividend yield on offer, The Times´s Tempus said. As might have been expected, the water supplier achieved bigger-than-expected cost-savings in the first year of the new regulatory period

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.