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WIND?? 11m profit
Year low, can't go wrong here. £11M profit from sale.
Great news. Expecting 52 week high of 81p to be hit
Looking good now, buyers coming in. Give it time sage, third time lucky ;)
Im in this is a nice little sale read through the holdings in company list too. very tasty
Becareful here, WIND doesn't move that much here :), Just look at the last RNS re 2 wind farm sale back in Oct 14. Gl
Waiting for the herd. My usual RNs website not working so had to get it from somewhere else. Like those numbers vs market cap. Will fly soon. Gla
total enterprise value of £24.4m MC IS ONLY 100m!!
24m SALE!!!!! Thursday 19 February, 2015 Renewable Energy Gen Sale of 10MW Denzell Downs Wind Farm RNS Number : 3621F Renewable Energy Generation Ltd 19 February 2015 19 February 2014 Renewable Energy Generation Ltd Sale of 10MW wind farm to BlackRock Renewable Energy Generation Limited ("REG") (AIM: WIND), announces the sale of its 10MW Denzell Downs wind farm project to BlackRock Renewable Income UK, a fund managed by BlackRock ("BlackRock") for a total enterprise value of £24.4m. Under the agreement REG will oversee construction of the project through a Construction Management Agreement and operate the completed wind farm on behalf of BlackRock via an Asset Management Agreement. REG will receive upfront cash consideration of £10.5m, with a further £3.9m payable following commissioning of the scheme, anticipated to be in early 2016 and will recognise an initial £11m of profit on the sale. The proceeds of the sale will be reinvested in REG's pipeline of consented renewable assets. Construction funding will be provided by BlackRock. REG's unrestricted cash resources now total around £22m, with further deferred consideration from recent asset sales of £5.9m recognised as receivable in the accounts of the company. The Company's next tranche of projects Rodbaston (4MW), French Farm (4MW), Brackagh Quarry (6MW) and Barlborough (0.8MW) are currently undergoing project finance and will move to construction later this year. Additionally two further Bio-Power projects will be constructed during REG's next financial year. Andrew Whalley, Chief Executive Officer, said: "We are pleased to further strengthen our relationship with BlackRock through the sale of the Denzell Downs wind farm. The transaction provides REG with significant additional capital, with the proceeds to be invested in our portfolio of consented sites."
The Portref and 18mw bio CoD are significant announcements in my opinion. 1. Portref (along with Denzell / St Breock / Ramsey II) mean the wind side of the business has plenty of stuff to build and flog to BR. Hopefully weaker Euro will benefit construction cost, offsetting the lower sales price due to power prices being as flat as the bubbles left over from New Year. 2. Bio - finally having the scale to make the effort (and overheads) of cleaning all that chip fat to operate in the peaking market worthwhile. Would have questions about how shareholders get some upside - maybe the buy back programme gets increased. Or maybe the assets stay on balance sheet until 2017, hopefully a better power market. I like the thought of that - don't know the terms with BR if it's allowed. Would also want a lot leaner overheads if they are going to hold stuff again. But generally in a good place going in to 2015. Back in with a small purchase of 15,000 looking to get to 50,000 by 31 March. Good luck all, noodles.
Some additional details (from job advert for Reg Bio-power Logistics Manager), ... the Logistics Manager will manage the maintenance of our growing fleet (currently eight vehicles) across all depots (currently Norfolk and Nottingham, but likely to soon open in Birmingham, West Yorkshire and Dublin) see http://www.logisticsmanager.com/Jobs/76274/Logistics+Manager.html
Considering the general recent fall in the FTSE I think the share price is holding up well, and the 10% increase in dividend is welcome, for me the coming increase in the STOR capacity , and its future expansion is good news given the difficulties in getting planning permission now for wind farms.
We just need some to move the share price here! Recently got rid of our non-core Goonhilly solar farm, which I have to say I did not know REG operated!
Anyone here know of any deeper links to HARWORTH. I know HARWORTH ESTATES are Friendly to STOR as they've been in bed with ALKANE ENERGY for a while but my thoughts are there's a bit more to it??? PEEL energy also have big ties with HARWORTH via there 33% holding in COALFIELD RESOURCES ( CRES TICKER ) CRES own 25% of Harworth by the way http://www.lse.co.uk/ShareChat.asp?ShareTicker=CRES&share=coalfield_res
Video of erection of High Down wind turbine http://blog.abundancegeneration.com/2014/03/reg-high-down-turbine-construction/ The High Down project is looking to raise up to £1,500,000 through a Variable Return Debenture https://www.abundancegeneration.com/projects/#!/1771608/about We are heartened to note that REG High Down has already met its minimum fundraising target of £500,000 with 343 individuals nowhaving invested over £709,000. (As at 11th march)
Was the 2nd buyer of last week's large share trades. Interesting to see two new Institutions on the share register. Who was the seller?
Premier Asset Management bought 5% on Monday and someone picked up 6% on Wednesday (2 x 3m trades). So your wish might come true with an RNS later today or Monday identifying holder(s)! Bon weekend.
Progress so slow here. Market still out of favour even given that its back in political favour. Just need one big II buy to get us noticed and then I believe we'll well and truly be leaving double figures behind.
FSA register shows AW leaving Premier AM as of 310712, so no related party transaction!
Interesting to see Whalley's old shop buying into REG. Related party transaction? MBO ahead?
Momentum starting to build here but still on low volumes. Very undervalued still just on the cash position alone even without the way the company is expanding. No brainer!