REG - Paternoster Res. - Announcement by Plutus PowerGen plc <Origin Href="QuoteRef">PRSPA.L</Origin>

Riverfort Global OpportunitiesAnnouncement

15/07/2015 16:37

RNS Number : 5412M
Paternoster Resources PLC
07 May 2015
7 May 2015
Paternoster Resources plc
("Paternoster" or the "Company")
Announcement by Plutus PowerGen plc re. Planning for First UK 20MW Flexible Stand-by Generation Site
Paternoster is pleased to note the announcement by Plutus PowerGen plc ("PPG") that it has obtained planning permission for its first 20MW flexible stand-by powergeneration site in Plymouth, UK.This is a landmark achievement for PPG that underpins the ongoing development of PPG's UK project pipeline.
With planning now obtained, preparations for the civil construction phase of the project can now commence for generation in 2016. This milestone also means that the 20MW site is eligible to apply in the UK capacity mechanism auction in 2015. PPG continues to develop the pipeline which comprises sites with over 500MW of power generation capacity, of which 180MW is at various stages in the planning process.
Nicholas Lee, Chairman of Paternoster, commented:
"This is a significant step for PPG underpinning the continuing strong development of the UK project pipeline."
For more information please contact:
Paternoster Resources plc:

Nicholas Lee, Chairman
Matt Lofgran, Non-Executive Director
+44 20 7580 7576
+1 480 993 8933
Nominated Advisor and Joint Broker:

Westhouse Securities

Antonio Bossi / David Coaten
+44 20 7601 6100
Joint Broker:

Peterhouse Corporate Finance

Lucy Williams
+44 20 7562 3351
  

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The company news service from the London Stock Exchange
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