World's first Renewable Heat Incentive Scheme will
stimulate a vibrant domestic and export-driven market
The UK Government announced yesterday the world's first
Renewable Heat Incentive (RHI) worth £860m to stimulate
£4.5bn of investment in the sector up to 2020. Prior to the
announcement there had been a concern that the scheme would
either be delayed or scrapped in the face of severe budgetary
cuts, and this concern has importantly now been allayed. The
RHI is a tariff-based scheme under which payments are made to
the generators of renewable heat per unit of heat output. It
will be available for all scales of installation within
industrial, public and commercial and residential sectors.
The scheme will be extended to the domestic sector in 2012
with an interim arrangement ('RHI Premium Payment') put in
place to provide around £15m of grants for renewable heat
installations. According to Government figures, the RHI will
save 44 million tonnes of carbon dioxide by 2020.Dave
Worthington, Advisory Director Camco UK, said:"The UK
Government should be praised for launching what is a
genuinely ground-breaking mechanism which many thought was
too difficult ever to get off the ground. As well as
generating 44m tonnes of carbon emissions savings, this will
give the UK renewable sector a competitive advantage for both
domestic and export markets." Enquiries:Camco +44 (0)20 7121
6100Scott McGregor, Chief Executive Officer Shirona Partem,
Investor Relations Singer Capital (Nominated Adviser and
Broker) +44 (0)20 3205 7628Jonathan Marren M:Communications
(Public Relations Advisor) Charlotte Kirkham +44 (0)20 7920
2331Elly Williamson +44 (0)20 7920 2339Patrick d'Ancona
+44 (0)20 7920 2347Notes to editors:About CamcoCamco
International Limited (Camco, AIM: CAO) is a global developer
of emission reductions and clean energy projects with
operations in the US, the UK, China, Africa, Russia and
SEA.Camco has a 20-year track record in project development,
technical delivery and policy development, working with local
industry, multinational companies, governments and regulatory
bodies.The Carbon Project Development business has created
one of the largest emission reductions portfolios and has
structured groundbreaking and innovative arrangements for the
sale and delivery of emission reductions to compliance and
voluntary buyers.Camco's Clean Energy Project Development
and Investment teams collaborate with industry, project
developers, equipment providers and investor groups to create
emissions-to-energy projects and maximise sustainable energy
production across a range of industries; including
agricultural methane, industrial energy efficiency, coal mine
methane, municipal solid waste, biomass and landfill gas.The
Energy and Carbon Advisory teams provide strategic,
commercial and technical expertise accrued over two decades
to deliver low carbon energy and sustainable development
solutions.www.camcoglobal.com
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