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Kedco Shares Up As It Chooses Contractor For Enfield Biomass Plant
Thu, 10th Oct 2013 10:39 LONDON (Alliance News) – Kedco PLC Thursday said it has chosen a preferred contractor to build its Enfield Biomass plant and a preferred partner to buy the electricity the plant will produce, while its Pluckanes wind turbine project had started exporting electricity to the grid. The renewable energy developer said it has chosen MWH Global Inc as preferred construction contractor on the 12 megawatt Enfield plant while Statkraft Markets GmBH is its preferred partner for the purchase of all the electricity generated by the plant. It said is continuing to work with “a large multinational, located close to the Enfield Project,” wghich will buy all of the heat generated by the project. Kedco added that it is continuing to work with the Foresight Group on financing for the project and due diligence has commenced. It hopes to reach financial close during the fourth quarter and start construction immediately afterwards. The company’s 800 kilowatt Pluckanes windfarm has been energised and is now exporting to the national grid, it said in a statement. Elsewhere, it said it has taken longer-than-expected to get agreement on a site for a biomass plant in Plymouth, but expects a deal shortly. Kedco shares were up 7.1% at 0.525 pence Thursday morning. By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1 Continue reading
