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24 Dec 2012 07:00
Renewable Energy Generation Limited
Turbine supply agreement signed with Gamesa SPA for three G80 2MW turbines
Renewable Energy Generation Limited ("REG") (AIM: WIND), the UK renewable energy group, announces that it has signed a turbine supply agreement with Gamesa SPA for three 2MW G80 turbines for a new project at Burnthouse Farm in Cambridgeshire. This project was developed under an agreement between REG and a development partner and received planning permission in the summer of 2011. However, the project was only freed to enter construction when a key aviation planning condition was discharged earlier this year.
The cost of Burnthouse Farm will be in line with the construction of REG's recent projects and will be wholly financed from REG's existing cash resources. It will have an annual energy production of approximately 14GWh per annum and is expected to be operational midway through 2013.
Andrew Whalley, Chief Executive Officer of REG, said:
"We have enjoyed a good relationship with our development partner and it is thus excellent news that we are now moving Burnthouse Farm into construction. This is our first purchase of Gamesa G80 turbines which have a proven track record of success around the world. We hope that Burnthouse Farm will be the first of a number of REG projects to move into construction during the next twelve months, helping the UK move towards meeting its long term emissions targets".
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) Martyn Fraser | +44 (0)117 376 2213 |
Cenkos (Corporate Broker) Bobbie Hilliam/Max Hartley | +44 (0)20 7397 8900 |
City Profile Simon Courtenay/Abigail Genis | +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 11 wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Cumbria and Gwynedd, with a total capacity of 51.15MW and has a development pipeline of over 1,000MW.
REG Bio-Power UK Ltd: based in Nottingham, UK: it operates electricity generation plant powered by fuel recovered from used cooking 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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