13th Jan 2015 15:24
LONDON (Alliance News) - REACT Energy PLC said Tuesday that it and joint venture partner Falcon Waste Development Land Co, part of the Larkfleet Group, have submitted a planning application to build an energy recovery facility in Clay Cross, Derbyshire.
The two companies are partners in a joint venture called Clay Cross Biomass Ltd, in which REACT has a 90% stake and Larkfleet a 10% stake.
The two expect to secure planning permission from Derbyshire County Council in the first half of 2015, and construction of the facility is expected to begin later in the year, subject to financing being in place. It expects the plant to be operational during 2017.
REACT is continuing discussions with potential providers of finance to enable the suspension of its shares to be lifted, it added. Shares in REACT continue to be suspended.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
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