Proposed Acquisition of Pinnacle Renewable Energy Inc. – a major international supplier of sustainable biomass
The DCO Examination Phase for Watt Power’s Progress Power Project, near Eye concluded in January 2015, and is currently under consideration by the Planning Inspectorate.
In accordance with the statutory DCO timetable, a decision as to whether or not to grant Development Consent Orders to the project is expected from the Secretary of State for Energy and Climate Change in mid-July 2015.
Assuming the DCO is granted to the project, it is Watt Power’s intention to enter the Progress Power Project in the UK’s Capacity Market Auction. Subject to the outcome of the Auction and the project’s financing, Watt Power would expect the plants to commence construction within 12 months of the auction, with commercial operation approximately 18 months later.