RED.L Regulatory News (RED)

14 March 2016

redT energy plc

("redT" or the "Company")

redT energy subsidiary Camco Clean Energy appointed to support renewable energy projects in Africa

redT energy plc ("redT energy" or the "Company"), the energy storage company, announces that its subsidiary, Camco Clean Energy, has been appointed on a 5 year contract to manage the Renewable Energy Performance Platform (REPP). REPP has been set up with the support of the European Investment Bank and United Nations Environment Programme as an innovative climate finance initiative, with the aim to provide support to African renewable energy projects smaller than 25MW.

The full REPP press release, including details of Camco's role, is copied below.

Camco Clean Energy, a subsidiary of redT energy, works with project developers, utilities, donors, private and multilateral development banks to assist in the development and financing of renewable energy projects in Africa.

Renewable Energy Performance Platform (REPP) launches

Supporting small scale renewable energy projects in sub-Saharan Africa

The Renewable Energy Performance Platform (REPP) has been established in order to develop small-scale and distributed renewable energy in sub-Saharan Africa.

REPP has been set up with the support of The European Investment Bank and United Nations Environment Programme. As an innovative climate finance initiative, REPP's purpose is to provide support to African renewable energy projects smaller than 25MW, to enable them to reach financial close and be constructed. The REPP "toolbox" includes:

· Early stage technical assistance;

· Efficient access to financial structuring and risk mitigation instruments, including assistance in sourcing debt financing; and

· Results-based finance, in certain limited circumstances, to ensure that viable projects are able to reach financial close.

Camco Clean Energy, in partnership with GreenStream Network Ltd, has been appointed REPP Manager. The role of this consortium as REPP Manager will be to deliver the "toolbox" of technical assistance, help de-risk projects, facilitate access to risk mitigation instruments and debt providers and provide results-based finance to qualifying projects. The REPP Manager's services will be provided free of charge to projects, with the dual objective of closing individual projects and developing financial ecosystems in sub-Saharan Africa that enable the sustainable growth of renewable energy in the region.

Many African countries suffer power deficits and underdeveloped grids. Small-scale and distributed renewable energy has significant potential to provide energy to communities that would not otherwise have access, making development of the sector critical to growth and development. Despite this, smaller scale projects have been hindered by a lack of access to the financial and structuring services freely available to larger projects. REPP is designed to overcome this barrier and aims to support 150MW of new generation over the next five years.

Geoff Sinclair, MD of Camco's African business, said: "There is enormous potential for small-scale and distributed clean energy to make a real difference to communities in Africa. Our team is proud to be working with Greenstream, EIB, UNEP, donors and the African renewable energy sector on such an important initiative."

Jussi Nykänen, GreenStream's Chairman, added: "GreenStream is looking forward to continuing its co-operation with Camco in providing this innovative platform. We are confident that the REPP will play a role in the development of financing skills and capacity in the region that will be of long term benefit to the development of renewable energy in sub-Saharan Africa."

For further information:

Notes to Editors

About Camco Clean Energy

Camco Clean Energy, a subsidiary of redT energy PLC (LSE:RED) works with project developers, utilities, donors, private and multilateral development banks to assist in the development and financing of renewable energy projects in Africa.

The firm is a leader in the renewable energy sector, with 25 years' experience managing public and private sector funding, and advising developers and governments on project finance via its network of offices in Kenya, South Africa, Ghana and London. Camco also co-advises Green Africa Power (GAP), a mezzanine fund dedicated to financing renewables in Africa.

About GreenStream:

Helsinki-based GreenStream Network Ltd offers advisory, financial and asset management services for renewable energy, energy efficiency and other climate change mitigation activities. GreenStream has a rare combination of broad-based expertise in carbon and renewable energy markets, including emissions trading, policy design, financial analysis and project development. GreenStream has offices in Helsinki, Beijing and Kiev.

GreenStream finances energy efficiency projects in China utilising the Energy Service Company (ESCO) model and implements the projects together with leading Nordic clean-tech providers.

Enquiries for redT energy plc:

About redT

redT develops and supplies durable and robust energy storage systems based on proprietary vanadium redox flow technology for on and off-grid applications. The liquid storage medium affords an exceptionally long life of over 10,000 full charge/discharge cycles and a 100% usable depth of discharge. Combined with low maintenance requirements this delivers industry leading levelised cost of storage (LCOS) and total cost of ownership (TCO) results. The modular approach allows the power and energy components of systems to be independently sized to meet customer requirements.

Until now it has not been possible to directly compare variable renewable energy generation sources with firm diesel or fossil fuel generation. PV + Storage is now reaching 'grid parity' in many countries, a paradigm shift in energy production, which will ultimately enable a distributed energy network optimising conventional and renewable generation. The redT system has applications in remote power, smart grids, power quality, and all aspects of renewable energy management.