viewRegency Mines PLC

Regency Mines launches Flexible Grid Solutions, eyes first revenue later this year

“The Southport project is fully aligned with the decarbonisation of the economy, the power grid and associated distribution networks," said chief executive Scott Kaintz

Regency Mines PLC - Regency Mines launches Flexible Grid Solutions eyes first revenue later this year

Regency Mines PLC (LON:RGM) told investors it has now rebranded its ‘Energy Storage’ division to ‘Flexible Grid Solutions’.

It also confirmed board approval progress for the first project to financial close, and added that first revenues are expected by the end of 2020.

The first project is located in Southport, near Liverpool, and it will see the installation of a gas fired "peaker plant" capable of generating some 7.2 megawatts of power. Such plants are designed to ease pressure on power networks, rebalancing supply at times when demand drives high prices.

READ: Regency Mines cuts losses on US coal forays and Tesla rentals

Subsequently, it plans to install up to 4 megawatts of energy storage, using lithium ion batteries. The company noted that it would then be able to purchase inexpensive power from the grid in off-peak times to resell in the future.

A local planning authority and grid application progress is presently underway.

“I am delighted to report that having recently acquired 100% of the business, Regency is now focusing its Flexible Grid Solutions division on its first project at Southport with a view to securing near term revenues,” said Scott Kaintz, Regency chief executive.

“The Southport project is fully aligned with the decarbonisation of the economy, the power grid and associated distribution networks. The project is also aligned with the requirement for flexible energy options to buttress an ever-increasing reliance on renewable power and the net zero emissions goal of the UK government."

Quick facts: Regency Mines PLC

Price: 0.825 GBX

Market: LSE
Market Cap: £740.99 k

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Regency Mines PLC named herein, including the promotion by the Company of Regency Mines PLC in any Content on the Site, the Company receives...



Regency Mines Plc chairman on Horse Hill project potential

Andrew Bell, chairman of Regency Mines Plc (LON:RGM), tells Proactive about the benefits of returning to the Horse Hill project which is a main focus for the company in 2016. The discovery at the UK oil project near Gatwick Airport is in Bell’s words “the most successful onshore discovery...

on 03/31/2016

2 min read