Subsidairy News
Five year contract with Port of Dover to reduce carbon footprint by installing REG Bio-Power CHP
Renewable Energy Generation Limited (AIM: RWE), the natural energy group, today announces that its wholly-owned subsidiary, REG Bio-Power, has signed a five year contract with the Port of Dover to supply electricity and heat from its biofuel-fired combined heat and power system at the Port.
REG Bio-Power is meeting a growing demand for the generation of decentralised electricity on industrial and commercial sites. The company has a proprietary fuel, known as LF100, which is refined from used vegetable cooking oil recovered from local authorities, caterers and restaurant chains to produce renewable, carbon-neutral electricity.
The agreement with the Port of Dover, REG Bio-Power's first independent commercial CHP contract, has fixed electricity prices for the first three years. The heat and electricity produced makes the scheme eligible for two Renewable Obligation Certificates per MWh.
Under the terms of the agreement with the Port of Dover, REG Bio-Power will install a 150kW Volvo Genset to supply a proportion of the Port's annual heat and electrical demand, which totals around 6-8MW. Upon the successful implementation of this project, both parties have agreed to discuss a further roll out of similar operations across the Port.
Construction of the plant will start in December and is expected to be completed in January.
Andrew Whalley, CEO of REG, commented:
"As energy efficiency and the environment become increasingly important to consumers, UK businesses are responding. Our CHP systems allow businesses to demonstrate corporate responsibility, reduce costs and enhance energy security and reliability. We are delighted to announce our first commercial CHP contract with the Port of Dover and to be able to demonstrate how the use of our biofuel-fired CHP technology can make a significant reduction to carbon emissions."
Bob Goldfield, Chief Executive, Port of Dover, said:
"As the operator of Europe's busiest ferry port, Dover has been a leader in environmental practice within the industry. Dover was the first port in Europe to be accredited to the Ports Environmental Review System in 2002 and the first port to be re-accredited in 2005. Indeed, 2005 was also the year when we entered into a partnership with the Carbon Trust and Energy Management Systems to start the campaign to reduce our carbon footprint. The agreement with REG shows our ongoing commitment to achieving this aim."
