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Regency Mines lodges application for first connection as part of move into flexible grid solutions

Regency Mines has moved into grid solutions, following the appointment of new management

Regency Mines PLC -

Regency Mines PLC (LON:RGM) has submitted an application for grid connection for its first flexible grid solutions project in Southport.

"Application for the grid connection is a critical step forward towards financial close at our first project in Southport,” said Regency chief executive Scott Kaintz in a statement. 

“With this key objective now completed, the company remains on target for maiden revenues by end of 2020," he added.

Working alongside inputs from ion Ventures Limited, the company has submitted form EREC G99 to Scottish Power Energy Networks.

The submission of the G99 form sets out the electricity connection details to ensure connection is properly designed and compliant with network requirements. The application form contains details of the planned generating units, including their specifications, and information on the proposed equipment to be associated with the site. 

Following the application, the company expects to receive an offer for the connection which will specify the conditions, the type of connection approved as well as any associated connection charges.   

The project will initially involve the installation of a gas-fired "peaker plant" with 7.2MW generation capabilities. 

These plants ease pressure on power networks by levelling out imbalances in supply and demand, generating and selling electricity when prices are high. This will then be followed by up to 4MW installation of energy storage using containerised lithium ion batteries. 

This provides the site with the ability to produce power when appropriate and store it for onward sale into the grid during periods of peak demand. The purchase of inexpensive power from the grid during off-peak times or when renewable production is higher than expected is also then possible through use of the battery installations.

Quick facts: Regency Mines PLC

Price: 0.795 GBX

LSE:RGM
Market: LSE
Market Cap: £1.51 m
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