Plutus PowerGen Plc / Ticker: PPG / Index: AIM

10 December 2014

Plutus PowerGen plc ('PPG' or 'the Company')

Secures Connection Offers for 140 MW at Sites in the South of England

Plutus PowerGen plc, the AIM listed power company focused on the development, construction and operation of flexible stand-by electricity generation in the UK, announces that its wholly owned subsidiary, Plutus Energy Ltd ('Plutus Energy'), has secured offers to connect to the National Grid at locations in the south of England with a combined capacity of 140MW.

This achievement is in line with PPG's strategy to develop 200MW of flexible stand-by power generation sites over the next three years.  Each project is envisaged to be comprised of 20MW and funded through individual SPVs.  The Company will now begin securing planning at the sites.  These connections are separate and additional to the grid connection requests made by London & Devonshire Trust on land capable of supporting 140MW, detailed in the announcement dated 3 December 2014.   

PPG CEO Phil Stephens said, "This represents another significant step towards developing our first operational sites and has been achieved on the back of our continued close working relationships with landlords in our target regions.  We can now begin the considered process of securing planning on these sites ahead of the next Capacity Market tender round in 2015."

**ENDS**

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Notes to Editors

Plutus PowerGen plc is an AIM listed company focused on the development, construction and operation of flexible stand-by power generation sites in the UK. At present, the market dynamics for flexible power generation are positive as a result of the continued downward pressure on capacity available to National Grid to balance supply and demand, leading to their announcements about possible power shortages over the next few years.

Flexible Power generators such as PPG offer a viable and timely solution to the power capacity shortfall in the UK. To this end, PPG is initially focusing on delivering 200MW of capacity over the next three years.

PPG has a straightforward multi-revenue stream model with large and stable counter-parties and is using project/EIS funding through SPVs to finance construction of the generation assets. This structure has the benefit of limiting dilution to plc shareholders as the assets are financed and built.