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Renewable Energy Gen (WIND)

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Monday 02 March, 2015

Renewable Energy Gen

REG secures contract for solar project

RNS Number : 1503G
Renewable Energy Generation Ltd
02 March 2015
 

News Release

 

2 March 2015

 

Renewable Energy Generation Ltd

 

REG secures contract for solar project

 

Renewable Energy Generation Limited ("REG") (AIM: WIND), announces that it has secured a contract for its 12MWp Netley Landfill ground-mounted solar PV project in the first allocation round of the UK Contracts for Difference (CfD) regime.  The project is being developed in partnership with Veolia, on its restored landfill site at Netley in Hampshire.

 

The CfD provides renewable energy generators with a 15 year index-linked price for supplying power to the grid and replaces the existing Renewables Obligation mechanism which will end in March 2015 for solar and March 2017 for other renewable technologies.

 

The Netley Landfill Solar project, in Hampshire, was one of three solar schemes to successfully secure a CfD for delivery in 2016-17 at a strike price of £79.23 per MWh.

 

REG expects the project to be completed by the end of 2016.

 

Andrew Whalley, Chief Executive Officer, said: "Today's announcement provides an element of welcome certainty as we progress our portfolio of CfD projects."

 

ENDS

Enquiries:

Renewable Energy Generation Limited

Andrew Whalley, Chief Executive Officer

David Crockford, Finance Director

Ian Lawrence, Communications Manager

+44 (0)1483 901 796

Cenkos (Corporate Broker)

Bobbie Hilliam

+44 (0)20 7397 8900

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: based in Truro, Bath and Guildford, UK, it 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 has around 200MW of projects in the planning system awaiting consent.

REG Bio-Power UK Ltd: based in Nottingham, UK: it operates 26MW of 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).


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