LONDON--Renewable energy group Kedco PLC (KED.LN) said Wednesday
that its plant in Newry, Northern Ireland, Wednesday started
production of syngas for the generation of electricity from its
biomass electricity and heat generation plant.
MAIN FACTS:
-Plant has achieved Form G59 certification which means that the
connection to the electricity grid is certified by the Distribution
Network Operator confirming its integrity and safety to export
electricity.
-Plant was approved for GBP7.8 million of bank finance by Ulster
Bank Group, a subsidiary of RBS Group PLC (RBS.LN) and has been
developed as a joint venture with the company's largest
shareholder, Farmer Business Developments PLC.
-Once fully operational, it is anticipated that the plant will
employ up to 12 people and provide clean electricity to over 7,000
homes.
-Kedco has a strong pipeline of additional plants at varying
stages of development, including a site in North London with full
Planning and Environmental Permission for the conversion of 60,000
tons of waste timber per annum into up to 12 megawatts of
electricity and heat.
-Company is also currently engaged in the planning process for
proposed biomass projects in Rutland, East Anglia and Clay Cross,
Derbyshire.
-Shares at 0727 GMT, up 15.79%, at 1.65 pence valuing the
company at GBP4 million.
-Write to Rory Gallivan at rory.gallivan@dowjones.com