Although the deal is still subject to the completion of formally executed legal documentation, at its heard to Kedco acquiring an option n to lease a 10 acre site located within Londonderry Dock.
The proposed project site is located in a strategic area of the port that already contains the 400 MW ESB Coolkeeragh gas fired power plant and another biomass project which has received planning permission.
In a written statement, the company said it expects to sign a binding option agreement before the end of March 2013, following which the planning process will start immediately.
In other news, Kedco has started the pre-planning consultation process for a 4 MW extension to its Newry Biomass project; this will bring the total capacity of the Newry project up to 8 MW once all phases are fully constructed.
The new 4MW extension will be developed on land currently leased by the project entity, Newry Biomass Limited (“NBL”). NBL has also already paid a deposit on a new dedicated 33kv grid connection, which will have the ability to take up to 20MW of capacity.
A planning submission for the extension will be submitted by the end of June 2013 and a decision is expected by the end of 2013.
If planning is granted for the extension the Company estimate that the extended plant could employ up to 15 people once fully operational. The Company will provide further updates in due course.
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