- Natural resource exploration and development company Corcel said it had acquired a 40% stake in the Tring Road 50MW gas peaking project outside of Aylesbury from Arlington Energy for £400,000.

The company further announces its intention to explore and discuss with Arlington Energy the potential, subject to agreement on terms, to co-develop and fund additional flexible energy assets in the United Kingdom.

'The addition of the "shovel ready" Tring Road project to our existing Burwell project dramatically bolsters our position in the increasingly competitive flexible energy space here in the UK,' Corcel said.

'Corcel and AE have formed an industry standard joint venture to operate the project and will look to jointly arrange funding for the project over the coming months, targeting financial close later in 2021,' it added.

At 9:55am: [LON:CRCL] Corcel PLC share price was 0p at 1.05p

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