16th Apr 2019 12:49
LONDON (Alliance News) - Plutus PowerGen PLC on Tuesday said it has submitted a planning permission application for the development of a double gas-powered site in the south west of England.
The company, which focuses on the development of flexible energy generation projects in the UK, said it has used funds raised in the fourth quarter of 2018 for the planning of the two prospective gas peaker sites.
"The directors of the company believe that if the sites were to be sold as two 20 megawatts sites, their sale would realise a significant profit for the company relative to the costs," Plutus added.
Plutus PowerGen shares were trading up 6.5% at 0.36 pence each on Monday afternoon.