RNS Number : 5633V
Renewable Energy Generation Ltd
10 August 2015
 

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

Approval for new 5MW wind farm in UK

 

Renewable Energy Generation Limited, the AIM quoted UK focused multi-divisional renewables company, announces that planning permission has been granted for the Company's three turbine Pen Bryn Oer Wind Farm in Wales ('the Project').  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 an expected installed capacity of 5MW which benefit from a 110m tip height.  The Planning Inspectorate's grant of planning permission, following a recent public inquiry, is subject to 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 revision to grace periods under the Renewable Obligation regime.

 

Andrew Whalley, REG Chief Executive Officer, said: "We are delighted to have been awarded planning permission for Bryn Oer which at 5MW is an excellent addition to the Company's growing portfolio of 111MW wind, solar and Bio-Power assets. We look forward to updating our shareholders both on the development of this Project and our other consented UK onshore wind farms in due course. "

 

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 EĆ³lica, S.L, a leading global wind turbine manufacturer, to supply 19 wind turbines for five new wind farm sites.

 

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 the opportunistic sale of power 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, in procurement or under construction.

 

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).


This information is provided by RNS
The company news service from the London Stock Exchange
 
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