REH.L Regulatory News (REH)

12 Jun 2007 07:02

Renewable Energy Holdings plc12 June 2007 12 June 2007 Renewable Energy Holdings plc ("REH" or "the Company") Welsh Wind Farm exclusivity The board of directors of REH ("Board") is pleased to announce that the Company has secured a period of exclusivity from Mynnydd y Gwynt, the vendors of the proposed wind farm site in Wales. The period of exclusivity runs until 31 August 2007, or such later date as maybe agreed mutually between the parties. During this period, REH and itsadvisers will have access to data and work performed to date by Mynnydd y Gwyntand its consultants which should enable REH to assess the viability of a windfarm development on the site. REH will place particular emphasis on the windstudy and the proposed turbine tower layout. REH is yet to commence work in earnest on the available data but, pending readyavailability of data and satisfactory results from this data review andevaluation process, the Board would expect to be able to proceed to anon-binding memorandum of understanding with respect to this project by 31August 2007. The Board believes that the wind farm site at Llangurig, mid-Wales, is capableof providing up to 90MW of generating capacity. The Board would intend to applypart of its loan facility with Standard Chartered Bank to the debt financedelement of this development. Mike Proffitt, Chief Executive Officer of REH, commented: "We are verypleased to have secured this period of exclusivity on this significant project.We believe that this project is capable of superior financial returns due to thelocation having an exceptional wind-regime and it being part of the UK's ROC's (Renewable Obligations Certificates) jurisdiction." Howard Evans, Chief Executive Officer of Mynnydd y Gwynt, commented: "We are delighted to be working with REH on this project. Whilst they are now capable of a project of this size, they remain a company we can deal with on aone to one basis." Enquiries: Renewable Energy Holdings plc Nabarro Wells & Co. LimitedMike Proffitt, Chief Executive Richard SwindellsTel: 01624 641199 Tel: 020 7710 7400 This information is provided by RNS The company news service from the London Stock Exchange