Kedco PLC Further Milestones on Three Wind Projects (7346F)
May 29 2013 - 2:00AM
UK Regulatory
TIDMKED
RNS Number : 7346F
Kedco PLC
29 May 2013
Press release 29 May 2013
Kedco plc
("Kedco" or the "Company")
Further milestones achieved on three small scale wind
projects
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 received planning permission on two separate
single wind turbine projects known as the Killuagh and Knockavadra
projects. In addition to this, the Company has received
confirmation from ESB Networks that the 500kw Altilow wind project
will be granted an offer to connect to the national grid; this
offer is expected to be issued within the next 21 days.
The Killuagh project is located in Delvin, Co. Westmeath and
will consist of a single wind turbine with a maximum export
capacity of 500kW. The project has received a decision, from
Westmeath County Council, to grant planning permission for the
project. This decision is subject to a four week statutory time
period for any third party appeals.
The Knockavadra project is located in Bweeng, Co. Cork and will
consist of a single wind turbine with a maximum export capacity of
500kW. The project has received a decision, from Cork County
Council, to grant a 10 year planning permission for the project.
This decision is also subject to a four week statutory time period
for any third party appeals.
Similar to the Altilow and Moneygorm single wind turbine
projects, the Company intends to move quickly to the next stages of
development with a meteorological mast due to be installed at both
sites once the final grant of planning permission is received in
four weeks. This will collect wind data on site over a 12 month
period following which a wind report will be prepared for bank
financing of each project. The intention is also to apply to
connect to the national grid immediately.
Both projects are expected to start construction in Q2 2014,
with initial revenue generation forecast by Q4 2014. The Company's
intention is to add the two projects to the single wind turbine
portfolio financing which will include the Pluckanes Windfarm, the
Moneygorm and Altilow projects.
In relation to the 500kw Altilow single wind turbine project,
this project already has planning permission in place and the
Company has been informed that a grid connection offer will be
issued by ESB Networks within the next 21 days. Once received the
Altilow project will have in place all the key consents to start
construction. The Board looks forward to providing shareholders
with further updates in due course.
- 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
- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
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