Helius signs option for biomass station
MIDDLESBROUGH-based Helius Energy, which plans to build three UK biomass stations - one of which will be on Teesside - has signed the option on a lease for its second site.
The 18-acres within Avonmouth Dock on the Bristol Channel is earmarked for construction of a 100MWe biomass power plant. The plans will be subject to a Section 36 agreement under the Electricity Act 1989. Helius said the location benefited from quayside access and a commercial agreement for port support from The Bristol Port Company.
The news comes just months after Helius gained Government approval for a 65MW biomass power plant at Stallingborough on the Humber estuary.
The company has similar plans for Teesside.
John Seed, managing director of Helius Energy, said he was delighted to have secured the site.
“Helius Energy remains committed to becoming a leading developer and operator of dedicated biomass power plants,” he said.
Helius, which has seen its share price ricochet from 18.00p to 64.75p over recent months, raised £2m earlier this year following the issue of new shares through a subscription agreement with Credit Suisse. Under the agreement, Credit Suisse subscribed for 14,814,815 new ordinary shares at 13.5 pence per share. Helius said at the time that it would use the equity investment as working capital for pipeline projects.
This morning shares were trading at 21.00p.
Helius is due to release full year’s trading figures in December.
