18th Mar 2015 08:29
LONDON (Alliance News) - Camco Clean Energy PLC on Wednesday said REDT, in which it holds a 49% stake, has been awarded a EUR400,000 grant to develop and install a hybrid energy storage platform in South Africa.
Camco said the funding has been awarded to REDT by the Energy and Environmental Partnership for Southern and East Africa.
The project would involve the installation of a hybrid energy system using a solar photovoltaic and REDT's energy storage system at the Thaba Eco Hotel, which currently has a weak grid connection and a back-up diesel generator.
"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," said Camco Chief Executive Scott McGregor.
Camco shares were up 7.4% to 4.70 pence Wednesday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
CCE.L