Camco Clean Energy PLC REDT contracts with Green Acorn for energy storage (4635L)
April 28 2015 - 2:00AM
UK Regulatory
TIDMCCE
RNS Number : 4635L
Camco Clean Energy PLC
28 April 2015
28 April 2015
Camco Clean Energy plc
("Camco" or "the Company")
REDT contracts with Green Acorn to implement an REDT liquid
energy storage system in Somerset to unlock full potential of
renewable PV generation.
REDT (Camco's energy storage business) is pleased to announce
its latest order to deliver a 5-40kWh energy storage system to a
working dairy roof mounted photovoltaic ("PV") generation
application in Somerset. The REDT storage system will enable the
full potential of PV renewable generation to be achieved.
A key challenge for renewable energy generation, and in
particular PV, is that it produces power at the wrong time of the
day making it difficult to match supply with demand throughout the
day for consumption. As further renewable generation comes online
and starts contributing to the UK power network, there is a maximum
volume of such power that distribution networks can manage when
demand is low. Consequently, recent Power Purchase Agreements
(PPAs) issued for renewable projects by network operators in the UK
are now limiting the amount of export of solar and wind power
during the day, when output is typically highest and demand is
relatively low.
In order to unlock the full potential of renewables by shifting
power generated into peak evening hours when consumer electricity
demand is higher, large scale durable energy storage is required.
The Somerset REDT installation by Green Acorn will demonstrate the
ability to time shift renewable energy production to the UK grid.
The REDT system will also allow the agriculture business to
maximise consumption of its own local PV renewable generation so
that it can make the most economic benefit from the power it
generates.
The UK grid is becoming less reliable following underinvestment
in infrastructure and due to the volatility of renewable
generation. The REDT system utilised at this installation will
enable the agricultural business to separate itself from the
national network during blackouts and continue to operate
autonomously using energy stored by the REDT energy storage system
and local renewable generation. This functionality could eventually
allow the business to become self-sufficient using local renewables
and utilising REDT energy storage to become fully independent from
the grid.
Once installed, this installation will become a showcase for the
deployment of liquid energy storage in this sector. REDT estimates
that the size of the market for storing agricultural PV generation
is in excess of 1 GWh in South West England.
Scott McGregor, CEO of Camco said,
"We are pleased to be working with our partner Green Acorn to
install our REDT systems in the UK. Energy storage is essential to
unlock the full potential of renewables across the UK."
Keith Hounsel, Managing Director, Green Acorn Energy Solutions
said,
"We are extremely excited to be installing our first REDT liquid
energy storage system. The wider
applications of liquid energy storage technology mean that many
renewable energy generators, whether retrofit or new installs can
seek the benefit of storing excess renewable energy."
Enquiries
+44 (0) 207 121
Camco Clean Energy plc 6100
Scott McGregor, Chief Executive
Officer
Jonathan Marren, Chief Financial
Officer
+44 (0)207 220
finnCap Ltd 0500
Julian Blunt (Corporate
Finance)
Tony Quirke (Corporate Broking)
+44 (0)207 653
Newgate 9850
Tim Thompson
Helena Bogle
Ed Treadwell
Andre Hamlyn
About Camco Clean Energy
Camco Clean Energy plc (AIM: CCE) is a clean energy development
company which combines technical and commercial expertise to
finance, develop, and operate renewable energy projects and storage
technology.
With 25 years of experience and an outstanding track record
throughout Asia, North America, Africa and Europe, Camco works with
local developers, governments, development banks, and private
investors to implement clean energy projects, policies, and
technologies and reduce emissions.
In the last year, Camco has brought an advanced energy storage
technology to market (REDT energy), secured an investment advisory
fund mandate for African renewables, and has developed utility
scale biogas plants in the US.
About REDT
REDT has developed a new and proprietary energy storage
technology which enables the efficient and sustainable storage of
electrical energy in liquid form. The multi-valent properties of
the Vanadium Redox electrolyte are used to provide a storage medium
of virtually unlimited life with a system able to last more than
10,000 deep charge/discharge cycles. Combined with its very low
maintenance requirements, REDT systems are able to deliver some of
the lowest Total Cost of Ownership (TCO) results in the industry.
Long discharge durations are achieved by the simple addition of
extra electrolyte capacity at a relatively low marginal cost.
Until now it has not been possible to directly compare variable
RE generation with firm diesel or fossil fuel generation. PV +
Storage is now reaching 'grid parity' in many countries, a paradigm
shift in energy production, which will ultimately enable the
complete displacement of conventional fossil fuel power with
renewable generation. The REDT system has applications in remote
power, smart grids, power quality, and all aspects of renewable
energy management.
* Camco Clean Energy plc, on a fully diluted basis, has an
economic interest of 49% in REDT.
About Green Acorn Energy Solutions
Green Acorn has been established through its early and current
involvement in the Renewable Energy Sector, and working with its
clients to understand the need to efficiently collect, store and
utilise Renewable Energy.
Green Acorn is seeking to provide a long term energy security
offering, whether through advice, technology or service to provide
its clients a product that will exceed the renewables currently
installed on the site.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPGUBCCUPAGMM
Camco Clean (LSE:CCE)
Historical Stock Chart
From Apr 2024 to May 2024
Camco Clean (LSE:CCE)
Historical Stock Chart
From May 2023 to May 2024