RNS Number : 5494W
Ultima Networks PLC
22 November 2010
Ultima Networks plc
("Ultima" or the "Company")
Connection of 100KW Solar park in Spain
The Board of Ultima is pleased to announce the successful commissioning and connection of the Company's 100 KW Solar park in Spain to the Spanish National grid.
The development of the Solar park has provided Ultima Spain SL (the Green Power division of Ultima) with valuable experience in the design, build and management of solar parks and will contribute revenue to the division based on a fixed tariff of 32 eurocents per kilowatt hour for a period of 25 years.
Professor Humayun Mughal, Chairman and CEO of Ultima, said:
"The connection of the solar park to the Spanish National grid represents a milestone in Ultima's ambition to grow revenue based upon the production of green renewable energy. The connection of the park to the grid represents confirmation of the Green Power division's solar energy credentials and has contributed to the division's knowledge base providing a template for future installations.
In Italy we continue to negotiate with ENEL Spa to finalise details for the connection to the Italian high voltage grid and the Board of Ultima are confident of being able to make positive progress in this regard. We look forward to updating shareholders as appropriate on developments in Italy."
Ultima Networks plc Tel: 01279 821200
Prof. Humayun Mughal, Chairman and CEO
Allenby Capital Limited (nominated adviser and broker) Tel: 0203 328 5656
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