Corcel PLC - Burwell Site - Planning and Grid Connection
("Corcel" or the "Company")
Receipt of Planning Permission and Grid Connection at Burwell Site
22 September 2020
Corcel Plc, ("Corcel" or "the Company"), the natural resource exploration and development company with interests in battery metals and flexible grid solutions, announces the receipt of both Planning Permission and a Grid Connection for the Burwell energy project.
· 100MW 132kV connection offer received from UK Power Networks
· Planning permission for initial 50MW battery site granted by East Cambridgeshire District Council
The Company announces that the Weirs Drove Development Company ("WDDC"), where it owns 50%, has received a formal Grid Connection offer from UK Power Networks, which includes undertaking the "non-contestable" (see Note 1. below) works necessary to connect the Burwell site to its
The Company also announces that the landlord of the Burwell site has received from the East Cambridgeshire District Council planning permission for a 50MW energy storage development. The permission covers the existing factory and the surrounding land at the Burwell site, and specifies the installation of the main battery and a 132kV transformer on an adjacent hard stand.
"I am delighted to report material progress at our Burwell project. The project as permitted is over 3 times larger than originally envisioned and now incorporates both energy storage and solar production. Once constructed, the Burwell project will be a very sizeable part of the energy network in the
With the receipt of both planning and the grid connection, we are now able to finalise the land lease, assess final project economics and validate procurement timelines, all with a view to either initiating discussions with project funders (likely at an SPV level) or indeed to consider a quick sale of the project to a third party.
Advancing projects such as these is a key element of Corcel's strategy, and providing flexible grid solutions remains on-trend with the evolution of the
Note1: Connection works that can only be carried out by the distribution network operator for the safety and security of the distribution network.
For further information, please contact:
This announcement contains inside information under Article 7 of Regulation (EU) 596/2014.
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