Green & Smart Holdings plc Completed commissioning of Malpom Plant (8149I)

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RNS Number : 8149I

Green & Smart Holdings plc

22 June 2017

22 June 2017

Green & Smart Holdings plc

("Green & Smart" or "the Group")

Green & Smart Completes Commissioning of Second Fully-Owned Biogas Power Plant

Green & Smart Holdings plc (AIM: GSH), a renewable energy company generating power from biogas captured through the treatment of palm oil mill effluent (POME) in Malaysia, is pleased to announce the completion of the commissioning and interconnection works for its second fully-owned biogas power plant, the 2.0MW Malpom plant located in Nibong Tebal, Penang.

The Group's testing of the biogas production system and the cabling works for interconnection to the electricity grid have been completed. Live test of power generation from the plant will now be undertaken by the Sustainable Energy Development Authority of Malaysian (SEDA) and Malaysia's main utility company, Tenaga Nasional Berhad ("TNB"). Green & Smart will commence recording revenues as power generated for transmission over the national grid during the testing period will be sold to TNB.

Green & Smart is currently awaiting receipt of a certificate of initial operation date ("IOD"). The Group anticipates testing to be completed by the end of July 2017 when the plant will become fully operational at headline capacity. Shortly thereafter, the Group expects to receive the formal certificate of commercial operation date ("COD"), which will allow the Group to sell power to TNB at the full tariff rate.

Saravanan Rasaratnam, Chief Executive Officer of Green & Smart, said: "We are delighted to have completed the commissioning phase at Malpom, our second fully-owned biogas power plant, which represents the achievement of a milestone towards the plant's full operation. With our first plant, Kahang, now selling power at the full tariff rate, we are excited to soon commence power sales at Malpom and to progress our extensive pipeline of other projects."

Enquiries

 
 Green & Smart Holdings plc 
 Saravanan Rasaratnam, Chief Executive 
  Officer 
  Navindran Balakrishnan, Chief Operations 
  Officer                                     [phone] 
 
 Cantor Fitzgerald Europe (Nominated 
  Adviser and Broker) 
 Andrew Craig, Richard Salmond                [phone] 
 
 Luther Pendragon Ltd 
 Harry Chathli, Claire Norbury, 
  Alexis Gore                                 [phone] 
 

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

This information is provided by RNS

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June 22, 2017 02:00 ET (06:00 GMT)