Open And Aegis Power Join Forces To Finance And Construct Wind Turbines In Northern Ireland

Open Opportunities In Envirotech Ltd And Aegis Power Plc Enter Strategic Partnership. End Quote

(1888PressRelease) March 02, 2014 - OPEN Opportunities in Envirotech Ltd (OPEN) and Aegis Power Plc. (Aegis) have proudly announced their collaboration in the finance, construction and operation of wind turbines in Northern Ireland.

OPEN is a firm fully focused on the finance of renewable energy projects and cleantech companies, while Aegis' business strategy is to identify, develop, build, own and operate electricity generation plants throughout the UK.

Aegis and OPEN shall collaborate on the finance and construction of wind turbines with a capacity of 225-250 kW in mainland Great Britain and Northern Ireland. These Wind Turbines have an operational life of over 20 years. Aegis will manufacture the ACSA A27 and A29 at its facility in Northern Ireland. The turbines based on the Vestas V27 and V29 have a certificate of conformity from the Danish Wind Association. Vestas, one of the leading wind manufacturers worldwide, granted a sub-licence to use this design. There are over 2,000 of these Turbines in operation worldwide and with over 20 years of field operation, they have shown their pedigree and reliability.

Currently Northern Ireland offers one of the world's most attractive and secure government backed incentives for the operation of medium sized wind turbines of up to 250 kW in maximum generation capacity. The government incentivises the operation of this size of turbine by granting four (4) renewable energy obligation certificates (ROCs), or NIROCs as they are issued in Northern Ireland to a project for every megawatt hour (MWh) generated. In addition to the NIROCs/ROCs, the generator is paid for each unit of electricity (kWh) exported to the grid. This combination results in a sovereign backed revenue stream from the commercial operation date.

Aegis has agreed a power purchase agreement/ROC Purchase Agreement with Power NI, a large Utility. The electricity generated and ROCs will be sold to Power NI, for a period of 10 years which secures the revenue stream of the project.

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