Africa Clean Energy Update

RNS Number : 8505B

Camco Clean Energy PLC

10 March 2014

 



Camco Clean energy plc (Camco)

Africa Clean Energy Update

Camco Clean Energy, alongside its development partner MW1, is pleased to announce that its 5MW solar project in South Africa which was submitted into the first round of the Small IPP Procurement Program in October 2013 has been shortlisted for the next round. The Program has been considering submissions over the past five months and recently announced Camco Clean Energy and its partner as shortlisted. This is a major step in the development of this project and signals an up-lift in its equity value given local market conditions.  The project will now be submitted to the final round which is expected to commence mid-2014.

The Company also has under development a further 20MW pipeline of similar size PV projects for the South African program as well as other solar development projects across Sub-Saharan Africa which sits alongside our wider development portfolio of assets in the US.

Further details on the Small Projects Renewable Energy Independent Power Producer Procurement Program can be found at www.ipp-smallprojects.co.za.

Separately, our team in South Africa has won a significant engagement to develop climate support initiatives as part of a Desired Emission Reduction Outcomes program in South Africa. The project team will be required to define the mix of policy measures at sectoral and sub-sectoral levels which are required to achieve the stated emission reduction targets. Camco Clean Energy will partner with the Energy Research Centre at the University of Cape Town on this project, which is due to be completed in December 2014.

Scott McGregor, Chief Executive Officer, said:

"Renewable energy is accelerating economic development in Africa and with our 6 offices in the region and a heritage of working on the continent for 25 years, we are very excited by the opportunities which are becoming available to us".

Enquiries:

Camco Clean Energy plc                                          [phone]

Scott McGregor, Chief Executive Officer

Jonathan Marren, Chief Financial Officer

N+1 Singer (Nominated Adviser and Broker)             [phone]

Andrew Craig

Ben Wright

About Camco Clean Energy

Camco Clean Energy plc (AIM: CCE) is an experienced project developer working to develop, construct, deliver and operate projects that contribute to building a sustainable future.

With more than 20 years of successful project delivery we help clients in Asia, North America, Africa and Europe to implement clean energy and emission reduction solutions, reducing costs and maximise financial and environmental benefits. We have an outstanding track record in technical delivery and commercial expertise, working with local industry, multinational companies, governments and regulatory bodies.

 

END

 

 

MSCLLFIAVLIDIIS