23 Feb 2017 07:00
Plutus PowerGen Plc / Ticker: PPG / Index: AIM
23 February 2017
PLUTUS POWERGEN PLC ("Plutus" or the "Company")
New Corporate Website
Plutus PowerGen Plc (AIM: PPG), the AIM listed power company focused on the development, construction and operation of flexible electricity and gas power generation in the UK, is pleased to announce the launch of its new corporate website, www.plutuspowergen.com.
Charles Tatnall, Executive Chairman of Plutus said, "Clean and easy to navigate, we hope that the new website will enable investors to gain an increased understanding of our business and its strategy.
"We remain focused on delivering low-cost flexible energy and gas powered projects in the UK. Having established our first 20MW project in Plymouth in November last year and with more than 200MW under development and a further 700MW in the pipeline, we are confident that we can play a key role in the UK's power generation mix at a time when the National Grid is facing increasing instability and risk of brownouts and blackouts. Importantly, our business model that encompasses partnerships with key players including one of the 'Big Six' multinational utility companies, ensures that these projects are fully funded without the need to dilute shareholders."
**ENDS**
For further information, please visit www.plutuspowergen.com, or contact:
Charles Tatnall | Plutus PowerGen Plc | Tel: +44 (0) 20 3705 8350 |
Phil Stephens | Plutus PowerGen Plc | Tel: +44 (0) 20 3705 8352 |
Andrew Craig | Cantor Fitzgerald Europe | Tel: +44 (0) 20 7894 7000 |
Richard Salmond | Cantor Fitzgerald Europe | Tel: +44 (0) 20 7894 7000 |
Elisabeth Cowell | St Brides Partners Limited | Tel: +44 (0) 20 7236 1177 |
Grace-Anne Marius | St Brides Partners Limited | Tel: +44 (0) 20 7236 1177 |
Notes to Editors
Plutus PowerGen Plc is an AIM listed company focused on the development, construction and operation of flexible stand-by power generation sites in the UK. At present, the market dynamics for flexible power generation are positive due to the continued downward pressure on capacity available to National Grid to balance supply and demand, leading to their announcements about possible power shortages over the next few years.
Flexible Power generators such as PPG offer a viable and timely solution to the power capacity shortfall in the UK. To this end, PPG is initially focusing on delivering 200MW of capacity by the end of 2017 and currently has a project pipeline of potential development sites with 700MW of power generation capacity.
PPG has a straightforward multi-revenue stream model with large and stable counter-parties and is using project/EIS funding through SPVs to finance construction of the generation assets. This structure has the benefit of limiting dilution to plc shareholders as the assets are financed and built.