Romag welcomes UK feed-in tariff for PV

 

TIDMROM 
 
RNS Number : 4593G 
Romag Holdings PLC 
01 February 2010 
 
ROMAG HOLDINGS PLC 
 
  Romag welcomes UK Government announcement of feed-in tariff for photovoltaic 
                                 installations 
 
The Board of Romag Holdings plc, a specialist manufacturer of glass and plastic 
composites for renewable energy, security, transport and architectural 
applications, welcomes todays news from the Department of Energy and Climate 
Change (DECC) confirming that a feed-in tariff for solar installations up to 5 
MW will be introduced from 1st April this year with a minimum lifetime of 25 
years. 
 
The feed-in tariff, which will be known as the 'clean energy cash-back scheme, 
rewards households and businesses with a payment for every kWh of electricity 
generated by a photovoltaic installation. The incentive for solar is banded 
dependent on the size of the system, whether it is retro-fit or new build and if 
it is building integrated or standalone. In addition to the tariff for 
generation, where electricity is exported back to the Grid users will receive a 
further payment of 3p/kWh. 
 
Commenting on the announcement, Lyn Miles, CEO of Romag Holdings Plc said: 
 
"We are delighted by todays feed-in tariff confirmation, which provides a real 
boost for the UK solar energy market, bringing it into line with mainland 
Europe, and comes at a particularly exciting time for Romag. 
 
"Our new product developments over the last year coupled with our agreements 
with Kingspan and British Gas position us well and we are very excited about the 
future of UK Solar PV and the role Romag will play in this. The fact that the 
FIT provides incentives for installations up to 5 MW means that everyone from 
home owners to business owners will be incentivised and Romag are well placed to 
supply a range of products into all these markets." 
 
The feed-in tariff for photovoltaics is banded as follows and has a lifetime of 
25 years beginning 1st April 2010: 
 

+-------------------+------------+------------+------------+ 
| Tariff levels 
                   for electricity financial incentives (p) 
| 
+----------------------------------------------------------+ 
| 
                        | Year 1     | Year 2     | Year 3 
| 
+-------------------+------------+------------+------------+ 
| =4 kW (new 
      |  36.1      |  36.1      |  33.0      | 
| build)            | 
                            |            | 
  | 
+-------------------+------------+------------+------------+ 
|  =4 kW 
                (retrofit) |  41.3      |  41.3      |  37.8 
| 
+-------------------+------------+------------+------------+ 
|  >4-10kW 
                        |  36.1      |  36.1      |  33.0 
  | 
+-------------------+------------+------------+------------+ 
|  >10 - 
                100kW      |  31.4      |  31.4      |  28.7 
 | 
+-------------------+------------+------------+------------+ 
|  >100kW - 
                 5MW     |  29.3      |  29.3      |  26.8 
| 
+-------------------+------------+------------+------------+ 
| Standalone 
      |  29.3      |  29.3      |  26.8      | 
| system            | 
                            |            | 
       | 
+-------------------+------------+------------+------------+ 
 
In the last year Romag has taken a number of steps in its solar photovoltaic 
business, PowerGlaz, to take advantage of a more favourable UK market. The 
company has developed new products, including a car parking canopy (PowerPark) 
to provide green electricity for recharging electric vehicles and has entered 
into separate agreements with British Gas and Kingspan for the supply of certain 
PowerGlaz products throughout the UK. 
 
Romag will itself be taking advantage of the new feed-in-tariff and is currently 
constructing a PV installation at the factory in County Durham, which the 
company believes will be the largest PV installation in the UK when it is 
completed.  As well as providing a good return on investment, it will be an 
excellent "demonstration site" for what can be achieved with PV under the 
feed-in-tariff regime and complement the PV training centre which is also in 
course of construction on the site. 
 
Enquiries: 
 
Kreab Gavin Anderson:                                               Tel: +44 20 
7074 1800 
Ken Cronin / Michael Turner / Natalie Biasin 
 
Arbuthnot Securities Limited:                                      Tel: +44 20 
7012 2000 
Antonio Bossi / Tom Griffiths 
 
Note to editors: 
 
Romag Holdings plc is a leading manufacturer of glass and plastic composites 
based in Consett, County Durham. Romag has developed a range of photovoltaic 
glass products (PowerGlaz) for use in the generation of renewable energy. 
 
Romag also manufactures a wide range of products for the security, transport and 
architecture markets to protect people against a variety of risks and threats. 
Businesses using the groups high-impact glass products include BAA, Securicor, 
government departments, banks, building societies and train operators. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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