RNS Number : 8030S
Renewable Energy Generation Ltd
13 July 2015
 

 

Renewable Energy Generation Limited / Ticker: WIND / Index: AIM

 

Renewable Energy Generation Limited ("the Company" or "REG")

Approval for new 9MW wind farm in UK

 

Renewable Energy Generation Limited, the AIM quoted UK focused multi-divisional renewables company, announces today that planning permission has been granted for the Company's 9MW Abergorki Wind Farm in Rhondda Cynon Taf, Wales ('Abergorki' or 'the Project').  Abergorki brings REG's tally of consented wind farms to eight, totalling around 60MW.   As previously announced 38MW are due to be delivered over the coming 18 months, with this project and the previously announced Mynydd Brombil (8MW) now also moving into procurement.  REG's strategy is to increase its existing 111MW of operational UK renewable energy projects across wind, bio-power and solar to 300MW within three years.

 

The Project comprises three wind turbines with tip-heights up to 146.5 metres and an expected aggregate installed capacity of up to 9MW.  Rhondda Cynon Taf County Borough Council's decision, in line with the planning officer's recommendation to approve the application, is subject to the expiry of the usual six week legal challenge period.  The Company is currently in discussions with the Department of Energy and Climate Change on the Project's eligibility for the proposed, revised grace periods under the Renewable Obligation regime.

 

Andrew Whalley, REG Chief Executive Officer, said: "Abergorki will be a significant addition to our portfolio as it is extremely well placed to harness the excellent wind resource in this part of South Wales.  It is also gratifying to achieve a resolution to grant consent at local authority level, demonstrating that well-sited wind farms can offer benefits to local communities and attract strong local support.

 

"Our pipeline of  consented renewable energy projects at various stages of procurement and construction now stands at 150MW.  Once commissioned, these projects will increase REG's total generating capacity to over 250MW.  We are therefore on track to hit our target to increase our existing 111MW of operational UK renewable energy projects across wind, bio-power and solar to 300MW within three years.   We are building a leading independent renewable energy provider in the UK and I look forward to providing further updates on our progress."

 

**ENDS**

 



 

For further information please visit www.renewableenergygeneration.co.uk or contact the following:

Andrew Whalley

Chief Executive Officer

Renewable Energy Generation Ltd

+44 (0)1483 901 796

David Crockford

Finance Director

Renewable Energy Generation Ltd

+44 (0)1483 901 796

Ian Lawrence

Communications Manager

Renewable Energy Generation Ltd

+44 (0)1483 901 796

Bobbie Hilliam

 

Cenkos (Broker)

+44 (0)20 7397 8900

Martyn Fraser

 

Smith & Williamson Corporate Finance Limited (Nominated Adviser)

+44 (0)117 376 2213

Felicity Winkles

 

St Brides Partners (Public Relations)

+44 (0)20 7236 1177

Frank Buhagiar

St Brides Partners (Public Relations)

 

+44 (0)20 7236 1177

 

Notes to editors

 

Renewable Energy Generation Ltd (REG) is an AIM listed UK focussed multi-divisional renewables company.  The Company has four distinct divisions: wind, bio-power, solar and asset management which offer multiple revenue streams.  REG currently operates 111MW of power in UK and it is the Company's strategy to grow its portfolio to 300MW across its four divisions in the next three years.

 

REG Windpower: Currently operates 11 wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Lancashire, Cumbria and Gwynedd, with a total capacity of 34.7MW.  REG has a growing portfolio of wind sites ranging in size from single turbine sites to six turbine wind farms. It has recently signed an agreement with Gamesa Eólica, S.L, a leading global wind turbine manufacturer, to supply 19 wind turbines for five new wind farm sites which once in operation will see wholly owned wind power operations almost double to 72.7MW.  Furthermore REG has approximately 200MW of wind projects in the planning system awaiting consent.

 

REG Bio-Power UK Ltd: Generates renewable energy through a patented bioliquid recovered from used cooking oil.  REG operates 26MW in the UK to generate power and heat. Projects generate income from sale of power; ROCs and embedded benefits; and contracts with the National Grid STOR service.

 

REG Solar:  Solar power generation in the UK, REG operates 4.5MW solar PV on behalf of BlackRock through its Asset Management division. REG has a further 61.6MW consented or in procurement.

 

REG Asset Management:  Full spectrum construction and asset management of wind and solar projects on behalf of third parties in the UK.  REG has 60.5MW of projects managed for BlackRock - 46MW (+10MW pipeline) wind and 4.5MW solar with management fees linked to % of revenue generated per project.

 

Furthermore REG works with best-in-class blue chip partners, including BlackRock, the world leading fund management group, Caterpillar, the world leading engineering group, and Veolia, the UK leader in environmental solutions, to deliver its diversified and profitable portfolio.

 

Headquartered in Jersey, REG was admitted to trading on AIM, a market operated by the London Stock Exchange, in May 2005 (AIM: WIND).

 


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