Camco International Limited : World's first Renewable Heat Incentive Scheme will stimulate a vibrant domestic and export-driven market

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 [phone]Scott McGregor, Chief Executive Officer Shirona Partem, Investor Relations Singer Capital (Nominated Adviser and Broker) [phone]Jonathan Marren M:Communications (Public Relations Advisor) Charlotte Kirkham [phone]Elly Williamson [phone]Patrick d'Ancona [phone]Notes 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