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IGas Preferred Contractor for Geothermal Scheme
IGas Preferred Contractor for Geothermal Scheme.
About this update from Star Energy Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n12 June 2023\n \nIGas Energy plc (AIM: IGAS)\n(\"IGas\" or \"the Company\")\n \nIGas Selected as Preferred Contractor for Salisbury NHS Trust Geothermal Scheme\nIGas is pleased to announce that its geothermal business, GT Energy, has been selected by Salisbury NHS Foundation Trust (the Trust) as preferred contractor through the Carbon and Energy Fund (CEF) Framework to deliver a geothermal heat solution for the Salisbury District Hospital NHS Trust. \nThe next phase is the creation of an Innovation Partnership between GT Energy, the Trust and the CEF for the parties to work together through the project development phases to deliver a geothermal heat plant for supply of renewable heat to the hospital on a long-term basis. \nGT Energy will de-risk and develop the geothermal project from initial geological feasibility, through consenting, to construction of the wells and energy centre. It is expected that heat supply will begin in early 2026 subject to normal planning, regulatory permitting and procurement cycles. It is envisaged that GT Energy will own and operate the facility. \nThe plant is proposed to fulfil the full heat requirements of the hospital (currently >20GWhth/annum) on a long-term energy supply agreement. The project anticipates making future applications to the Public Sector Decarbonisation Scheme (PSDS) to assist in the funding of the project, although progression is not conditional on a grant from the PSDS.\nCommenting Ross Glover, Chief Operating Officer, IGas said:\n\"This is an important step forward for GT Energy. The NHS 2040 net zero target places it at the forefront of decarbonising healthcare, making it the world's first national health system to commit to become 'carbon net zero', backed by clear deliverables and milestones. GT Energy along with the Trust and the CEF look forward to realising this project which will position Salisbury NHS Foundation Trust at the forefront of the NHS's ambition.\"\nCommenting Brian Johnson, Director of Estates Salisbury NHS Trust added:\n\"This is an incredibly exciting development for the Trust in our journey toward net carbon zero. Eliminating our reliance upon fossil fuels with an on-site geothermal source will be both renewable and give us strong resilie...