Kedco PLC Co-development Agreement Update (5663E)

TIDMKED

RNS Number : 5663E

Kedco PLC

14 May 2013

 
Press release   14 May 2013

Kedco plc

("Kedco" or the "Company")

Capacity under co-development agreement increased to 52.5MW

Kedco plc, (AIM:KED) the renewable energy group focusing on the production of clean energy in the UK and Ireland, is pleased to announce that its wholly owned subsidiary Reforce Energy Limited ("Reforce") has expanded the capacity and number of windfarm projects under the co-development agreement that was announced on 21 January 2013.

The capacity of the three windfarms in the North West of Ireland, which formed part of the original co-development agreement, has now increased from 30MW (as previously announced) to 40MW. Work has already commenced on the planning application for these three projects and it is intended that they will be submitted to the planning authorities in Q3 2013.

In addition to this, a fourth project in the same region of Ireland has been added to the co-development agreement. This project will have an expected capacity of 12.5MW, bringing the total capacity under development through the agreement to 52.5MW. A planning application for this project is also expected to be submitted in Q3 2013.

The parties also continue to assess and review a number of additional new sites, which will form part of the agreement, should they meet Kedco's site selection criteria.

Gerry Madden, CEO of Kedco, commented: "With this increase in capacity and addition of a new site the Company has successfully reached its minimum target for 2013 of doubling its development portfolio to 140MW, and the Board is pleased to have achieved this well in advance of the year end."

- Ends -

For further information:

 
                                          +353 (0)21 483 
Kedco plc                                  9104 
Gerry Madden, CEO 
                                          +44 (0)20 7408 
Shore Capital - Nomad & Broker             4090 
Pascal Keane / Anita Ghanekar 
                                          +44 (0)20 7398 
Abchurch Communications - Financial PR     7707 
Janine Brewis / Joanne Shears / Shabnam 
 Bashir

About Kedco plc

Kedco Group is a renewable energy portfolio developer and operator whose business strategy is to identify, develop, build, own and operate renewable energy electricity and heat generation plants in the UK and Ireland.

The Group possesses significant knowledge of renewable energy markets, clean technologies, fuel sources, project development, project finance and project delivery.

Kedco was admitted to trading on AIM, a market operated by the London Stock Exchange, in October 2008 (AIM: KED).

www.kedco.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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