IPSA.L Regulatory News (IPSA)

19 Jan 2007 09:00

IPSA Group PLC19 January 2007 IPSA Group PLC ("IPSA" or "the Company") 19 January 2007 First Revenue - Newcastle Plant Opening IPSA, the AIM and AltX traded power developer, has now confirmed the timetablefor commencing the commercial operation of its first power plant in the Republicof South Africa ("South Africa"). Subject to the final granting of a generationlicence by the National Energy Regulator South Africa (NERSA), South Africa'spower regulator, the IPSA Newcastle Cogeneration Plant in KwaZulu Natal is nowexpected to enter into commercial operation providing steam and power on 23February 2007. Formal inauguration of the plant is scheduled for 16 February2007. Testing and commissioning is now underway. First boiler firing is expected inthe first week of February 2007 when the steam connection to the Karbochemchemical facility is due to be tested and approved, and commercial steamproduction is scheduled to begin in the first two weeks of February. Newcastle Cogeneration is South Africa's first independent gas-fired powerplant. It is also one of South Africa's most environmentally friendly powerplants with one of the lowest emissions of CO2 of any thermal plant in thecountry. The Board Directors of IPSA, the developer and owner of Newcastle Cogeneration,is therefore pleased to announce that an application is being made to SouthAfrica's Department of Minerals and Energy for the Newcastle plant to beconsidered eligible for Carbon Credits under the United Nations CleanDevelopment Mechanism of the Kyoto Protocol for the reduction of greenhouse gasemissions. In view of the high baseline for thermal power generation in SouthAfrica from low efficiency coal-fired power plants which are heavy producers ofCO2, the directors of IPSA believe that Newcastle Cogeneration could qualify fora material level of Carbon Emission Reduction Certificates which would be animportant source of revenue once the plant enters commercial production. The Company intends to release its results for the fifteen months to 30September 2006 on Wednesday, 31 January 2007 and intends to provide shareholderswith a full update of its operations, including Newcastle, as part of itsresults announcement. For further information please contact: Peter Earl, CEO, IPSA Group plc 020 7793 7676John Llewellyn-Lloyd, Noble & Company Limited 020 7763 2200 This information is provided by RNS The company news service from the London Stock Exchange