REDT awarded EUR 400,000

RNS Number : 7428H

Camco Clean Energy PLC

18 March 2015

 

18 March 2015

Camco Clean Energy plc

("Camco" or "the Company")

REDT awarded €400,000 for 100% Renewable Energy Penetration Hybrid Energy Storage Solution

Camco Clean Energy plc is pleased to announce that REDT* has been awarded €400,000 by the Energy and Environmental Partnership for Southern and East Africa ("EEP") to develop and install a hybrid energy storage solution in South Africa.

This project proposes to install an innovative hybrid energy system consisting of a solar PV and REDT's patented Energy Storage System at Thaba Eco Hotel (formerly known as Thaba Ya Batswana) which currently has a weak grid connection and a back-up diesel generator.

The 180 kWh REDT system will be used alongside a 100kW photovoltaic installation and an existing diesel generator. It is anticipated that the hybrid system will enable the Eco lodge to save up to 175 MWh of electricity every year, thereby displacing an equivalent amount of power that would otherwise be generated by the diesel generator or consumed from the main grid.  With the addition of energy storage renewable penetration can reach up to 100% and the use of gensets and grid purchases can be significantly reduced, saving money and avoiding noise disturbance and CO2 emissions. This system forms part of the initial unit orders announced on 30 January 2015.

The successful demonstration of the hybrid system has the potential to assist in unlocking affordable, clean and reliable access to energy across the African continent supporting sustainable social and economic growth. Sub-Saharan Africa is home to roughly 580 million people without access to electricity. In order to meet future demand, an estimated 374 GW of power generation capacity is needed by 2030 - 12 times current levels.

Given the region's significant renewable resource base, renewables coupled with storage are expected to play a major role in meeting future energy access goals and stabilising weak grid systems. By time shifting surplus, the addition of an REDT system allows the integration of higher levels of renewables; supporting greater distributed generation; increasing energy access and reducing CO2 emissions.

Scott McGregor, CEO of Camco said,

"We are excited to be working with Thaba Eco hotel in Johannesburg. Businesses connected to weak grids and those operating off-grid across Africa have until now had to settle for unreliable and expensive power, which is a major drawback across the continent Now with the REDT Energy Storage system we can provide these businesses with a stable long term supply of power. The project will also create employment opportunities for the local community in South Africa."

Rueben Louw, CEO of Thaba Eco Hotel said,

"Energy storage coupled with PV allows us to receive a stable supply of power to provide essential services to our guests who trust us to deliver special experiences. A secure power supply is key to us given the unreliable grid supply and recent load shedding experienced in South Africa. The 20+ year lifetime and performance of the REDT Energy Storage system allows us to save money on diesel purchases, diesel generator maintenance and power purchases from the grid. Part of the savings generated from this system will be donated to a charity which helps the local community."

Please see the following link for additional information: http://youtu.be/kok96m5xKwA

The Project has been financed by the donors of the Energy and Environmental Partnership for Southern and East Africa ("EEP S&EA II"): the Ministry for Foreign Affairs of Finland, the Austrian Development Agency and the UK Department for International Development.

* Camco Clean Energy plc, on a fully diluted basis, has an economic interest of 49% in REDT.

Enquiries

Camco Clean Energy	[phone]
Scott McGregor, Chief Executive Officer
Jonathan Marren, Chief Financial Officer
finnCap Ltd (Nominated Adviser and Broker)	[phone]
Julian Blunt, Corporate Finance
Tony Quirke, Corporate Broking
Newgate (Financial PR)	[phone]
Tim Thompson, Helena Bogle, Edward Treadwell, Andre Hamlyn

About Camco Clean Energy

Camco Clean Energy plc (AIM: CCE) is a clean energy development company which combines technical and commercial expertise to finance, develop, and operate renewable energy projects and storage technology.

With 25 years of experience and an outstanding track record throughout Asia, North America, Africa and Europe, Camco works with local developers, governments, development banks, and private investors to implement clean energy projects, policies, and technologies and reduce emissions.

In the last year, Camco brought an advanced energy storage technology to market (REDT energy), secured an investment advisory fund mandate for African renewables, and has developed utility scale biogas plants in the US.

About REDT

REDT has developed a new and proprietary energy storage technology which enables the efficient and sustainable storage of electrical energy in liquid form.  The multi-valent properties of the Vanadium Redox electrolyte are used to provide a storage medium of virtually unlimited life with a system able to last more than 10,000 deep charge/discharge cycles. Combined with its very low maintenance requirements, REDT systems are able to deliver some of the lowest Total Cost of Ownership (TCO) results in the industry. Long discharge durations are achieved by the simple addition of extra electrolyte capacity at a relatively low marginal cost.

Until now it has not been possible to directly compare variable RE generation with firm diesel or fossil fuel generation. PV + Storage is now reaching 'grid parity' in many countries, a paradigm shift in energy production, which will ultimately enable the complete displacement of conventional fossil fuel power with renewable generation. The REDT system has applications in remote power, smart grids, power quality, and all aspects of renewable energy management.

 

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