Going forward, the main mining assets will be the Mambare nickel-cobalt project in Papua New Guinea, and a 50% interest in the Dempster Vanadium project in the Yukon, Canada,
In the UK, work is currently underway on a single large development site near Liverpool, where two potential stages of development are envisioned under the name of the Southport Energy Centre.
Scott Kaintz, chief executive, said a core business exists within Regency that can be developed.
“This core will consist of a combination of our existing mining interests coupled with the investment in energy storage space, offering investors potential exposure to the battery story and energy revolution from the raw materials in the ground to their ultimate deployment in the modern UK electricity grid.
“Funding will be required to develop our projects and we look forward to announcing further details of these plans in due course.”
Southport Energy Centre: Phase 1 of the SEC is expected to consist of the leasing and installation of up to 9MW of gas-powered electricity generation accompanied by the installation of containerised batteries with 2MW of storage capacity.
Commonly known as “Peaker Plants”, these types of plants are equipped to generate electricity and sell into the UK electricity market when electricity prices are high or renewable production low, and to buy and store electricity when prices are low or when electricity generation is higher than had been anticipated. Anticipated revenue streams include electricity trading, Short Term Operating Reserve (“STOR”) and Fast Frequency Response.
“All funding is currently planned to be raised through a special purpose vehicle (“SPV”), with further SPVs utilised on subsequent projects.
“Currently, there is no expectation of Regency or EsTeq being required to fund a substantial part of either the debt or equity components of the SEC,” said CEO Scott Kaintz in September.
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