Plutus PowerGen goes green with biofuel deal

11th Feb 2016 16:27

(ShareCast News) - Plutus PowerGen turned green on Thursday, signing a memorandum of understanding with Green Biofuels for the supply of renewable biofuel.The AIM-traded power company, focused on the development, construction and operation of stand-by generation in the UK, said the deal was for the supply of proprietary renewable fuel Green D+ for use across its generation projects.With the utilisation of a pure, green vegetable oil-based fuel, Plutus would become a low-carbon renewable power generator, its board explained."We have been looking for a renewable fuel partner for some time and this strategic deal complements our corporate environmental objectives, by providing us with renewable energy capabilities," said Plutus chief operating officer Paul Lazarevic."Green D+ delivers highly significant environmental benefits without a reduction in engine efficiency," he added.Plutus currently had management contracts for the construction and operation of nine 20MW flexible stand-by electricity plants in the UK.