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1 Nov 2011 07:00
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Press Release 1 November 2011
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Renewable Energy Generation Ltd
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Final receipt of deferred consideration on sale of AIM PowerGen Corp
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Renewable Energy Generation Limited ("REG") (AIM: WIND), the UK renewable energy group, today announces the receipt of Cdn$3.76m (Β£2.35m) being the final tranche of deferred consideration in respect of the sale of its Canadian subsidiary AIM PowerGen Corp.
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This payment, which equates to the deferred consideration reflected in REG's year end accounts, concludes the AIM PowerGen sale process which has realised Β£57.5m inΒ net proceeds.
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ENDS
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Enquiries:
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Renewable Energy Generation Limited Andrew Whalley, Chief Executive Officer David Crockford, Finance Director Ian Lawrence, Communications Manager Β | +44 (0)1483 901 790 |
Smith & Williamson Corporate Finance Limited (Nominated Adviser) Nick Reeve / Martyn Fraser Β | +44 (0)117 376 2213 |
Evolution Securities (Corporate Broker) Garry Levin / Tim Redfern / Stuart Andrews Β | +44 (0)20 7071 4300 |
City Profile Simon Courtenay / Sheena Khan | Β +44 (0)20 7448 3244 |
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Notes to editors
Renewable Energy Generation Ltd (REG) is a UK renewable energy group. Its main business is the development, construction and operation of wind farms and generating power from refined used cooking oil.
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REG Windpower: based in Truro and Bath, UK, it currently operates ten wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Cumbria and Gwynedd, with a total capacity of 41.15MW and has a development pipeline of over 1,000MW.
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REG Bio-Power UK Ltd: based in Nottingham, UK: it operates electricity generation plant fuelled by waste vegetable oil.
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Headquartered in Jersey, REG was admitted to trading on AIM, a market operated by the London Stock Exchange, in May 2005 (AIM: WIND).
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www.renewableenergygeneration.co.uk
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