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Pin to quick picksRedt Energy Share News (RED)

Share Price Information for Redt Energy (RED)

London Stock Exchange
Share Price: 0.875
Bid: 0.85
Ask: 0.90
Change: 0.00 (0.00%)
Spread: 0.05 (5.88%)
Open: 0.875
High: 0.875
Low: 0.875
Yest. Close: 0.875
RED Live PriceLast checked at -

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RedT Says First Energy Storage Systems Arrive In South Africa

Mon, 13th Jun 2016 08:10

LONDON (Alliance News) - Energy storage technology firm RedT Energy PLC on Monday said two of its energy storage systems have arrived in South Africa, to be used in a residential development in Johannesburg.

RedT said this marks its first shipment of patented energy storage systems into Africa, a market which it sees as "key" for future growth as "weak grid infrastructure across the continent [has resulted] in many businesses and individuals looking to safeguard their supply through the use of effective energy storage".

RedT said it has shipped two energy storage systems to the customer's site, with the units having been purchased by a South African renewable energy developer to be connected to a 20 kilowatt solar array at a residential development in Alberton, Johannesburg South. RedT didn't name the buyer.

System commissioning will take place later in the year, RedT said, in line with property development schedules.

"We are pleased to announce our first unit sales into Africa. This is a core growth area for the commercial sale of our energy storage systems and we believe RedT's units will help the continent unlock the potential of its renewable energy sources to provide firm power, bringing increased energy security to Africa," said Chief Executive Scott McGregor.

Shares in RedT were up 2.8% at 9.12 pence on Monday.

By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland

Copyright 2016 Alliance News Limited. All Rights Reserved.

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