Aegis Power bond (No 1) Plc
GXG : APB

June 22, 2015 04:21 ET

Aegis Power Bond (No 1) Plc: Press release

AEGIS POWER BOND (NO. 1) PLC
PRESS RELEASE (GXG:APB)

LONDON, UNITED KINGDOM--(Marketwired - June 22, 2015) - The  Directors  of  Aegis Power Bond (No. 1) PLC ("Aegis" 
or the "Company") wish to  advise  you  that  The Department  of  Energy  and  Climate Control ("DECC") have 
issued a press release  which  has  stated  that supports  are  to  be  withdrawn for projects which are not 
connected to the grid by the  1st  April  2016. However, this statement should be of no concern to either our 
current investors or future investors.  Aegis has  always  been aware and pre-empted any changes in the sector and 
are committed to securing the  Assets, capital and returns for our investors.

  --    Once  Aegis wind turbines are grid connected they benefit from the Government supports (either
        Renewables Obligation Certificates ("ROCs") in Northern Ireland or Feed-in-Tariff in mainland UK) for the
        full 20 year period.
  --    As we are operating in the small/medium wind sector (225kW to 500kW) we believe we have a faster
        deployment than large wind farms. The time between starting a site and having a turbine erected can be as
        little as 6 weeks.
  --    The DECC announcement states that the scheme will not be changed before the 1st April 2016. The
        Aegis Directors believe we will have all turbines which are part of the Aegis Power Bond (No. 1) PLC Bond
        ("the Bond") erected by the 1st February 2016 if not sooner.
  --    Furthermore,  DECC  have stated that a grace period will be given to  projects  with  Planning
        Permission, Grid connection and land rights (leases).
  --    All wind turbines which the Bond will own will have planning permission, grid connection and land
        rights (leases) in place, and therefore we are of the opinion the risk to the investor as a result of 
        these changes is mitigated. Furthermore, all sites in mainland UK have pre-accreditation, thus are outside     
        of the changes and in respect of Northern Ireland the Minister has confirmed in a statement that they will    
        not be following Westminster's policy and issued the following statement: "DETI recently consulted on    
        closing the Northern Ireland Renewables Obligation ("NIRO") to new generation in 2017 and I will shortly  
        publish the formal government response to the consultation. I want to make it clear now however that I do   
        not intend to follow the Westminster government's policy to close the existing scheme early. Onshore wind  
        has made a valuable contribution to our renewable energy aspirations in Northern Ireland. This has enabled  
        the Executive to reach its ambitious Programme for Government target to have 20% of our electricity   
        generated by renewables by 2015". The full press release is below.

This announcement was not unexpected and our response has been a planned one.

If  you have any further queries on the recent announcement or any other queries please do not hesitate  to
contact a member of the Investor relations team.

Rory McMullan
Managing Director
AEGIS POWER BOND (No. 1) PLC.

Bell reassures NI onshore wind industry

Enterprise, Trade and Investment Minister, Jonathan Bell, has reassured NI onshore wind developers
following an announcement by UK Energy Secretary, Amber Rudd, to close the Renewables Obligation across
Great Britain to onshore wind in 2016.

The Department of Energy and Climate Change (DECC) has announced its intention to close the Renewables
Obligation across Great Britain to new onshore wind projects only from 1 April 2016.

Commenting on DECC's announcement, the Minister said: "I am disappointed by DECC's decision to end support
for onshore wind in 2016, one year earlier than previously planned. This may have implications for how we
fund renewables under the current support scheme. This has, understandably, created investor concern in
Northern Ireland."

"DETI recently consulted on closing the Northern Ireland Renewables Obligation (NIRO) to new generation in
2017 and I will shortly publish the formal government response to the consultation. I want to make it clear
now however that I do not intend to follow the Westminster government's policy to close the existing scheme
early. Onshore wind has made a valuable contribution to our renewable energy aspirations in Northern
Ireland. This has enabled the Executive to reach its ambitious Programme for Government target to have 20%
of our electricity generated by renewables by 2015."

Note to editors:

1. DECC will close the Renewables Obligation for England and Wales and the Renewables Obligation Scotland
to new onshore wind projects from 1 April 2016.

2. The Northern Ireland Renewables Obligation works in conjunction with the GB ROs but the policy and
legislation is devolved to Northern Ireland.

3. The costs of incentivising renewables is socialised across all UK electricity consumers. Wind farms
account for over 90% of the total renewable electricity consumed in Northern Ireland.

4. For media enquiries, please contact DETI Press Office on 028 9052 9604. Outside office hours, please
contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.

This is an automated distribution service - please do not reply to this email address.


The Directors of the Issuer accept responsibility for the contents of this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Rory McMullan
Aegis Power Bond (No. 1) plc
Telephone: +44 203 059 7872

GXG Corporate Advisor
Nick Michaels and Jon Isaacs
Alfred Henry Corporate Finance Limited
www.alfredhenry.com
Tel: +44 207 251 3762



22 June 2015

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