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1 Nov 2011 07:00
Press Release 1 November 2011
Renewable Energy Generation Ltd
Final receipt of deferred consideration on sale of AIM PowerGen Corp
Renewable Energy Generation Limited ("REG") (AIM: WIND), the UK renewable energy group, today announces the receipt of Cdn$3.76m (£2.35m) being the final tranche of deferred consideration in respect of the sale of its Canadian subsidiary AIM PowerGen Corp.
This payment, which equates to the deferred consideration reflected in REG's year end accounts, concludes the AIM PowerGen sale process which has realised £57.5m in net proceeds.
ENDS
Enquiries:
Renewable Energy Generation Limited Andrew Whalley, Chief Executive Officer David Crockford, Finance Director Ian Lawrence, Communications Manager
| +44 (0)1483 901 790 |
Smith & Williamson Corporate Finance Limited (Nominated Adviser) Nick Reeve / Martyn Fraser
| +44 (0)117 376 2213 |
Evolution Securities (Corporate Broker) Garry Levin / Tim Redfern / Stuart Andrews
| +44 (0)20 7071 4300 |
City Profile Simon Courtenay / Sheena Khan | +44 (0)20 7448 3244 |
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.
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.
REG Bio-Power UK Ltd: based in Nottingham, UK: it operates electricity generation plant fuelled by waste vegetable oil.
Headquartered in Jersey, REG was admitted to trading on AIM, a market operated by the London Stock Exchange, in May 2005 (AIM: WIND).
www.renewableenergygeneration.co.uk
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