REH.L Regulatory News (REH)

24 Mar 2006 07:00

Renewable Energy Holdings plc24 March 2006 Renewable Energy Holdings Plc Collaboration Agreement with Consensus Business Group Renewable Energy Holdings plc ("REH" or the "Company"), the AIM listed investorin, and operator of, proven and innovative renewable energy technologies, ispleased to announce that it has entered into a Collaboration Agreement withConsensus Business Group ("Consensus"). The Collaboration Agreement aims at accelerating REH's development of itsbusiness plan to own and operate renewable energy assets in the UK and Europe.Terms of the Collaboration Agreement include Consensus having the firstopportunity to provide funding to REH's future joint ventures, both through debtand/or equity to assist REH's business roll out, as well as for offsetobligations and trading opportunities for green emission credits. Vincent Tchenguiz, Chairman of Consensus, said: "Consensus has access to the technology and financial resources to create amutually beneficial relationship with REH, enabling it to accelerate theefficient development of it's business plan. The renewable energy sector isgrowing rapidly and presents a wealth of opportunities. This CollaborationAgreement will provide REH with the tools and the reach to maximise its marketshare and create significant value." Mike Proffitt, Chief Executive of REH said: "We have developed a significant deal flow and our relationship with Consensuswill allow us to maximise these opportunities. We have already earmarked aninvestment in both the UK and Europe which, if completed, will see Consensusinvesting £3 million in joint ventures with REH. I am also pleased to say thatVantania Holdings Limited, a company which is ultimately owned by Investec Trust(Guernsey) Limited as Trustees of the Tchenguiz Family Trust, invested £2million in our latest placing. We look forward to the Collaboration Agreementsupporting our growth strategy. For further information, please contact: Renewable Energy Holdings plc Binns & Co PR Ltd DBA Ltd for Consensus Business GroupMike Proffitt, Chief Executive Paul McManus Sean BellewTel: 01624 64 11 99 Tel: 020 7786 9600 Tel: 020 7930 8033 Mob: 07980 541 893 Mob: 07973 23 4040 This information is provided by RNS The company news service from the London Stock Exchange