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Renewable Energy Gen (WIND)

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Tuesday 01 July, 2014

Renewable Energy Gen

Sale of Goonhilly Solar Farm

RNS Number : 0322L
Renewable Energy Generation Ltd
01 July 2014
 



1 July 2014

 

Renewable Energy Generation Ltd

 

Sale of Goonhilly Solar farm

 

 

Renewable Energy Generation Limited  (AIM: WIND), the renewable energy group, today announces the sale of its 4.5MW ground-mounted solar project at Goonhilly Downs in Cornwall to a fund managed by BlackRock for an upfront consideration of £5.0m and contingent deferred consideration of up to £0.7m.

 

The scheme, located adjacent to the long-standing REG-operated wind farm, was constructed by juwi Renewable Energies Ltd and has been successfully accredited under the Feed-in Tariff regime. This sale is the third such transaction under REG's ongoing partnership with BlackRock established in 2013.

 

REG will continue to manage the solar farm under a long-term asset management agreement and proceeds of the sale will be reinvested in REG's pipeline of consented renewable assets.

 

Andrew Whalley, REG's Chief Executive Officer, said: "Our relationship with BlackRock continues to generate shareholder value for REG, with our well-managed renewable energy projects remaining attractive investments."

 

 

Enquiries:

Renewable Energy Generation Limited

Andrew Whalley, Chief Executive Officer

David Crockford, Finance Director

Ian Lawrence, Communications Manager

+44 (0)1483 901 790

Smith & Williamson Corporate Finance Limited

(Nominated Adviser)

Martyn Fraser

+44 (0)117 376 2213

Cenkos (Corporate Broker)

Bobbie Hilliam/Max Hartley

+44 (0)20 73978900

Broker Profile

Simon Courtenay

+44 (0)20 7448 3244

 

Notes to editors

Renewable Energy Generation Ltd (REG) is an AIM listed renewable energy group. Its main business is the development, construction and operation of wind farms and generating power from refined used cooking oil.

REG Windpower: currently operates 11 wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Lancashire, Cumbria and Gwynedd, with a total capacity of 34.7MW as well as 3 projects on behalf of its partner BlackRock totalling 28MW. REG also has around 200MW of projects in the planning system awaiting consent. 

REG Bio-Power UK Ltd: it operates electricity generation plant powered by fuel recovered from used cooking oil.

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

www.renewableenergygeneration.co.uk

 


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