Plutus PowerGen plc ("the Company") is the holding company of Plutus Energy Limited ("Plutus Energy"). Plutus Energy was recently established for the purpose of generating power from flexible standby electricity generation sites. Plutus Energy intends to generate revenue through the sale of this power to established national energy suppliers during periods of peak electricity demand or Grid instability.
Plutus Energy has a management team with expertise in the building and operation of flexible power generation projects, a demonstrable track record of securing EIS funding for the fixed cost element of the construction of diesel generation sites, obtaining planning permission with suitable connectivity to the Grid as well as successfully tendering for National Grid contracts for this form of specialised energy sales.The Directors believe that the market opportunity arises from the constraints inherent in the National Grid’s electricity transmission network where flexible power generation has an increasing role to play particularly as fossil fuel power stations continue to close and it will be many years before new nuclear power stations will be built in the UK.
The business plan of the Company, subject to securing the necessary funding and planning permissions, is to secure contracts for construction, on-going tendering and operations & management of flexible generation facilities for individually established special purpose vehicles, which will be part-owned by Plutus Energy. In addition, Plutus Energy intends to enter into service contracts for the tender and operations of flexible generation capacity for UK utility providers.