Plutus PowerGen’s flexible energy generation sites use established, reliable technology based on containerised generators, fired with biofuel. The Company is currently evaluating the opportunity to deliver gas-powered energy generation sites as well. Treated as embedded generation, the unmanned gensets supply the local low voltage distribution network, reaching full output within 150 seconds of being switched on remotely.
The financing structure for the Rockpool portfolio is based on £3-3.5 million in equity and £2m in debt. These have been financed with equity from clients of Rockpool and have advance assurance from Her Majesty’s Revenue and Customs to benefit from EIS-related tax benefits. Plutus PowerGen has a 45% stake in each of these entities, and currently derives revenue from a £150,000 per annum management contract with each site. From November 2015, EIS was closed off to new standby power generation projects. Future projects will be held in separate subsidiary companies, in which Plutus PowerGen will seek to obtain an interest of 80%.
Built on the site of the former Toshiba television factory in Ernesettle, our 20MW Plymouth facility is now operation, in time for the winter season.
Although the Company’s sites are operated remotely and thus do not create local employment opportunities, we are keen to contribute to the communities in which our facilities are located. We therefore offered an undertaking to Plymouth City Council that we would provide up to £50,000 to support good causes located in the same ward as our site. So far we have contributed to projects relating to infrastructure, sport and education.
“Thank you, this is a great opportunity for the club to move forward and create more wheelchair rugby and social activities for disabled people in the Plymouth area.” - Hawks Founder and Coach
“The Plutus PowerGen pledge was a great boost to our project.” Ocean City Powerchair Football Club Chairperson
“The pledges from Plymouth City Council and Plutus PowerGen definitely boosted the support for the project from the community. Work can start on installing security gates and rotavating the land, ready to allocate plots to residents. It actually feels real now!” – Neighbourhood Warden, Four Greens Ernesettle Community Allotment