RNS Number : 5233N
Ultima Networks PLC
05 September 2011
Embargo for RNS Reach until 07:00 Monday 5 September 2011
Ultima Networks plc
("Ultima" or the "Company")
Completion and connection to the national grid of first solar project in the UK
Ultima is pleased to announce the completion and connection to the national grid of its first solar project in the UK. The Green Power Division (the "Division") has been granted accreditation by the Office of Gas and Electricity Markets ("Ofgem") under the Feed-in tariffs ("FITs") and Climate Change Levy ("CCL") exemption for renewable schemes (accreditation number L00334PVEN) for a 98.04 KW solar photovoltaic ("PV") installation. The accreditation is effective from 14 July 2011 and allows the Division to claim payment under the FITs scheme for power generated from the installation for a period of 25 years.
Professor Humayun Mughal, Chairman and CEO of Ultima, said:
"The granting of accreditation by Ofgem represents the completion of the Company's first UK based solar PV installation. The Company is working on several projects and expects to complete a number of these during the forthcoming months, which will result in a significant increase in the Company's production of renewable energy. Production levels can be viewed on the Ultima website (www.ultima-networks.com), which is displaying a "real time" monitor of power generated and carbon dioxide emissions avoided."
Ultima Networks plc 01279 821200
Prof. Humayun Mughal, Chairman and CEO
Allenby Capital Limited (Nominated Adviser and Broker) 0203 328 5656
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