Helius Energy soars after UK govt grants consent for Avonmouth biomass power plant

Shares in Helius Energy PLC (AIM: HEGY) soared today after the alternative energy generator announced it received consent from Department for Energy and Climate Change, for the construction of a 100MWe (MegaWatt electrical) biomass-fuelled power station located at Avonmouth Dock on the Bristol Channel.

Helius stock rose after the news was released at midday and was still trading nearly 16 percent higher in early afternoon deals.

The power station will produce enough renewable electricity for around 200,000 homes, and will save over 720,000 tonnes of carbon dioxide a year when compared to a similarly sized coal-fired power station, it said in a statement. The electricity produced at the plant will be fed into the local electricity grid, and Helius has already secured grid access rights.

The biomass power plant will require up to 850,000 tonnes of sustainably sourced feedstock each year, primarily wood-based material. Construction of the plant is expected to start following conclusion of the engineering procurement programme. 
Helius develops, installs and operates biomass-fired renewable electricity generation plants at sizes ranging from five megawatts to 100MW. The company is currently involved in several projects.

The company successfully developed a 65MWe power plant at Stallingborough, South Humberside, which was sold at pre-construction stage to RWE Innogy. Helius also has a 7.2MWe project in Morayshire, centred on distillery residues for fuel.

The 100MWe Avonmouth project represents the latest development in the Helius project pipeline.  The company is currently considering a number of options to progress the scheme, including the participation of industrial and financial partners.

http://www.proactiveinvestors.co.uk/companies/news/14924/helius-energy-soars-after-uk-govt-grants-consent-for-avonmouth-biomass-power-plant-14924.html