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RedT Energy's German grid deal to underpin its forecasts for next 2 years

Scott McGregor, chief executive of redT energy plc (LON:RED), discusses with Proactive Investors the exclusive deal they've signed with Energy System Management GmbH (ESM), a German energy development company, to deliver two 40MWh grid-scale energy storage projects in Germany as a first phase deployment, with plans to roll out a further 690MWh of projects in the future.

''It's a huge market to grow into ... the first projects are around €70mln and the portfolio overall is around €400mln.

''Middle to the end of next year we'll begin construction , we have the exclusive rights to develop these projects they're ready to go so we'll bring the solution and we'll bring the finance''.

''There's soft finance already on the projects, that's our expertise, so we're structuring that finance at the moment and then we'll get the projects away''.

 

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