22 February 20
GB00BD065038
Energy Circle PLC
("Energy Circle")
Framework agreement entered into with Reliance Energy Ltd
Energy Circle, a developer, builder and operator of renewable, clean and alternative energy projects, is pleased to announce that it has entered into a framework agreement with Reliance Energy Ltd ("Reliance") under which Energy Circle [may] [,subject to contract,] [acquire] one or more UK projects from Reliance.
Reliance is a well-established developer of electricity generation projects and currently has a pipeline of projects in the development phase with 240MW of potential generating capacity. This pipeline is expected to grow in the coming months.
It is expected that Reliance will identify and commence the development phase of projects (including completing permitting for the relevant site) with a view to Energy Circle then being offered the opportunity to acquire those projects. Energy Circle will pay Reliance a fee in respect of the projects it acquires. If Energy Circle acquires a project, it will complete the build phase of the project and commence operation.
The projects identified by Reliance will be distributed generation plants. These are plants which are connected directly to the electricity distribution network rather than the transmission network. The development and construction of this generation capacity will help provide much needed electricity to the UK during periods of high demand.
COMPANY CONTACT DETAILS:
Energy Circle Plc
Queens Court
24 Queen Street
Manchester
M2 5HX
Telephone: +44 (0) 203 709 4707
http://invest.energycircleplc.com/
GIBRALTAR STOCK EXCHANGE CORPORATE ADVISER:
Alexander David Securities Limited
David Scott -Corporate Finance
James Dewhurst - Institutional Sales
Telephone: +44 (0) 20 7448 9820
http://www.ad-securities.com
49 Queen Victoria Street, London EC4N 4SA
