Business
Flexible Grid Solutions application submitted
Flexible Grid Solutions application submitted.
About this update from Corcel Plc
[{"type":"text","content":"\n \n \n RNS Number : 7601E\n Regency Mines PLC\n 03 March 2020\n \n \n \n \n \n \n \n Regency Mines PLC\n \n \n (\"Regency\" or the \"Company\")\n \n \n \n \n \n Flexible Grid Solutions\n \n \n Submission of Grid Application at Southport\n \n \n \n \n \n 03 March 2020\n \n \n Regency Mines Plc (LON: RGM), the battery metals and flexible grid solutions company, is pleased to confirm that the electricity grid application form (EREC G99) has been submitted at its first project in Southport. \n \n \n \n \n \n Highlights: \n \n \n o \n EREC G99 Grid Application Submitted, a critical milestone\n \n \n o \n Financial Close Targeted for mid year\n \n \n o \n Maiden revenues by end of 2020\n \n \n \n \n \n Scott Kaintz, CEO, commented\n : \"Application for the grid connection is a critical step forward towards financial close at our first project in Southport. With this key objective now completed, the Company remains on target for maiden revenues by end of 2020.\" \n \n \n \n \n \n Grid Connection Application:\n \n \n \n \n \n Working alongside inputs from ion Ventures Limited, the Company has now submitted EREC G99 form to Scottish Power Energy Networks. The submission of the G99 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. The Company, following the application, 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. \n \n \n \n \n \n As previously announced, the first Flexible Grid Solutions project is at a development site in Southport, near Liverpool, and will initially involve the \n installation of a gas fired \"peaker plant\" with 7.2MW generation capabilities. \n 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 \n up to 4MW installation of energy storage using containerised lithium ion batteries. This provides ...