Green & Smart Holdings plc Completed commissioning of Malpom Plant (8149I)
June 22 2017 - 2:00AM
UK Regulatory
TIDMGSH
RNS Number : 8149I
Green & Smart Holdings plc
22 June 2017
22 June 2017
Green & Smart Holdings plc
("Green & Smart" or "the Group")
Green & Smart Completes Commissioning of Second Fully-Owned
Biogas Power Plant
Green & Smart Holdings plc (AIM: GSH), a renewable energy
company generating power from biogas captured through the treatment
of palm oil mill effluent (POME) in Malaysia, is pleased to
announce the completion of the commissioning and interconnection
works for its second fully-owned biogas power plant, the 2.0MW
Malpom plant located in Nibong Tebal, Penang.
The Group's testing of the biogas production system and the
cabling works for interconnection to the electricity grid have been
completed. Live test of power generation from the plant will now be
undertaken by the Sustainable Energy Development Authority of
Malaysian (SEDA) and Malaysia's main utility company, Tenaga
Nasional Berhad ("TNB"). Green & Smart will commence recording
revenues as power generated for transmission over the national grid
during the testing period will be sold to TNB.
Green & Smart is currently awaiting receipt of a certificate
of initial operation date ("IOD"). The Group anticipates testing to
be completed by the end of July 2017 when the plant will become
fully operational at headline capacity. Shortly thereafter, the
Group expects to receive the formal certificate of commercial
operation date ("COD"), which will allow the Group to sell power to
TNB at the full tariff rate.
Saravanan Rasaratnam, Chief Executive Officer of Green &
Smart, said: "We are delighted to have completed the commissioning
phase at Malpom, our second fully-owned biogas power plant, which
represents the achievement of a milestone towards the plant's full
operation. With our first plant, Kahang, now selling power at the
full tariff rate, we are excited to soon commence power sales at
Malpom and to progress our extensive pipeline of other
projects."
Enquiries
Green & Smart Holdings plc
Saravanan Rasaratnam, Chief Executive
Officer
Navindran Balakrishnan, Chief Operations
Officer +603 2095 0024
Cantor Fitzgerald Europe (Nominated
Adviser and Broker)
Andrew Craig, Richard Salmond +44 20 7894 7000
Luther Pendragon Ltd
Harry Chathli, Claire Norbury,
Alexis Gore +44 20 7618 9100
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014. Upon the publication of
this announcement via a Regulatory Information Service ("RIS"),
this inside information is now considered to be in the public
domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPGUCGQUPMPPG
(END) Dow Jones Newswires
June 22, 2017 02:00 ET (06:00 GMT)
Bion (LSE:BION)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bion (LSE:BION)
Historical Stock Chart
From Sep 2023 to Sep 2024