10th Mar 2014 12:29
LONDON (Alliance News) - Camco Clean Energy PLC Monday said its five megawatt solar project in South Africa has been shortlisted for the next round of the Small Independent Power Producer Procurement Program.
The sustainable energy development company submitted the site into the first round of the programme, which was set up by the South African Energy Department to stimulate development in the renewable industry, in October 2013.
The programme considered submissions over five months and then announced that Camco's site has been shortlisted into the final round, which is expected to commence mid-2014 .
Camco said the shortlisting is a major step in the development of this project and signals an up-lift in its equity value given local market conditions.
The company also has under development a further 20 megawatts of similar size projects for the South African program as well as other solar development projects in Sub-Saharan Africa.
Camco Clean Energy shares were up 4.8% to 3.80 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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