www.renewableenergygeneration.co.uk
Renewable Energy Generation is a renewable energy group, principally involved with wind power generation and Bio-Power. The Group develops, owns and operates UK & Canadian wind farms and generates UK power from refined, used vegetable cooking oil through three operating companies.
Renewable Energy Generation inks five year deal to supply electricity and heat to Port of Dover from biofuel powered system
Shares in Renewable Energy Generation Limited (AIM: RWE)(“REG”), the wind power and biomass focused energy group, held steady this morning despite confirmation of a five year contract to supply electricity and heat to the Port of Dover from its biofuel fired combined heat and power (CHP) system.
Under the terms of the agreement with the Port of Dover, REG will install a 150kW Volvo Genset to supply a proportion of the Port's annual heat and electrical demand - at a fixed price for the first three years - which totals around 6-8MW.
The heat and electricity produced makes the scheme eligible for two Renewable Obligation Certificates per MWh, REG stated.
Construction of the plant will start in December 2009 and is expected to be completed in January 2010.
"As energy efficiency and the environment become increasingly important to consumers, UK businesses are responding. Our CHP systems allow businesses to demonstrate corporate responsibility, reduce costs and enhance energy security and reliability,” Andrew Whalley, CEO of REG, commented. “We are delighted to announce our first commercial CHP contract with the Port of Dover and to be able to demonstrate how the use of our biofuel-fired CHP technology can make a significant reduction to carbon emissions."
REG has a proprietary fuel, known as LF100, which is refined from used vegetable cooking oil recovered from local authorities, caterers and restaurant chains to produce renewable, carbon-neutral electricity.
