Last checked at 12 Apr 2016 09:20
12 April 2016
REACT Energy plc
("REACT" or the "Company")
Planning permission granted for Clay Cross Biomass Limited
REACT, the renewable energy developer and operator focusing on the production of clean energy in the UK and Ireland, is pleased to announce that, further to the Company's announcement on 7 April 2016, the Regulatory Planning Committee of Derbyshire County Council (the "Committee") voted in favour on 11 April 2016 to approve the construction and operation of an energy recovery facility at Clay Cross in Derbyshire (the "Facility") by Clay Cross Biomass Limited ("Clay Cross"), a company in which REACT has a 90% interest, subject to finalising a Section 106 agreement pursuant to the conditions set out in the report by the Strategic Director to the Committee.
Clay Cross anticipates utilising EQTEC Integrated Biomass Gasification Technology, the same technology that the Company is installing at its Newry biomass gasification project in Northern Ireland, to power the plant as part of a Engineer, Procure and Construct ("EPC") contract for the construction of the Facility. Once commissioned, the Facility is expected to convert approximately 80,000 tonnes per annum of construction and demolition (C&D) waste wood which is currently sent to landfill to generate up to 12MW of electrical energy, sufficient to provide electricity for over 18,000 homes, and up to 14MW of thermal energy per annum.
The Company is currently in discussions to secure finance for the construction of the Facility and estimates that it will take approximately 18 months from obtaining finance to the final commissioning of the plant.
Further announcements in respect of the Facility will be made by the Company as and when appropriate.
For further information:
REACT Energy plc Gerry Madden / Brendan Halpin | +353 (0)21 2409 056 |
Strand Hanson Limited - Nomad & Broker James Harris / Richard Tulloch / Ritchie Balmer | +44 (0)20 7409 3494 |
About REACT:
REACT Energy plc is committed to operating clean electricity and heat generation plants in the UK and Ireland. The Company seeks to identify, build, own and operate renewable projects and possesses significant knowledge of energy markets, clean technologies, fuel sources, project development, project finance and project delivery. REACT currently has four operational clean energy plants generating revenue from the sale of electricity and heat. The generation of clean electricity and heat from sustainable sources has the potential to address the key energy challenges of energy security and carbon commitment and provide strong returns on capital employed.
The Company is quoted on AIM and trades as REAC. Further information on the Company can be found at www.reactenergyplc.com.