WIND.L Regulatory News (WIND)

26 June 2015

Renewable Energy Generation Limited ("the Company" or "REG")

Update on Zero Dividend Preference Share Issue

Further to announcements by Renewable Energy Generation Limited, (the "Company") the AIM quoted UK focused multi-divisional renewables company, on 02 June 2015 and 22 June 2015, the Company has decided to proceed with an issue of zero dividend preference shares ("ZDP Shares") to support the procurement and construction phases of projects within its wind portfolio in the UK.

The Board believes that obtaining additional finance through the issue of ZDP Shares, will allow the Company to accelerate the delivery of projects under the Government's revised Renewables Obligation and Feed-in Tariff regimes and hence maximise value for shareholders.

In light of recent announcements from the Secretary of State for Energy and Climate Change on Renewable Obligations, the Company are proposing revised terms in relation to the ZDP Shares. The ZDP Share life will be reduced to approximately 4.5 years. The Gross Redemption Yield will remain the same and be approximately 4.0 per cent with the ZDP Shares to be issued at 100 pence per ZDP Share to raise gross proceeds not exceeding £31 million.

The issue of ZDP Shares will be subject to regulatory and shareholder approval and the Company will be publishing an updated Shareholder Circular and EGM notice shortly. Full details of the proposed indicative terms attached to the proposed ZDP Shares will be set out in the Shareholder Circular.

For further information please visit www.renewableenergygeneration.co.uk or contact the following:

Notes to editors

Renewable Energy Generation Ltd (REG) is an AIM listed UK focussed multi-divisional renewables company. The Company has four distinct divisions: wind, bio-power, solar and asset management which offer multiple revenue streams. REG currently operates 111MW of power in UK and it is the Company's strategy to grow its portfolio to 300MW across its four divisions in the next three years.

REG Windpower: Currently operates 11 wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Lancashire, Cumbria and Gwynedd, with a total capacity of 34.7MW. REG has a growing portfolio of wind sites ranging in size from single turbine sites to six turbine wind farms. It has recently signed an agreement with Gamesa Eólica, S.L, a leading global wind turbine manufacturer, to supply 19 wind turbines for five new wind farm sites which once in operation will see wholly owned wind power operations almost double to 72.7MW. Furthermore REG has approximately 200MW of wind projects in the planning system awaiting consent.

REG Bio-Power UK Ltd: Generates renewable energy through a patented bioliquid recovered from used cooking oil. REG operates 26MW in the UK to generate power and heat. Projects generate income from sale of power; ROCs, LECs and embedded benefits; and contracts with the National Grid STOR service.

REG Solar: Solar power generation in the UK, REG operates 4.5MW solar PV on behalf of BlackRock through its Asset Management division. REG has a further 61.6MW consented or in procurement.

REG Asset Management: Full spectrum construction and asset management of wind and solar projects on behalf of third parties in the UK. REG has 60.5MW of projects managed for BlackRock - 45MW (+10MW pipeline) wind and 4.5MW solar with management fees linked to % of revenue generated per project.

Furthermore REG works with best-in-class blue chip partners, including BlackRock, the world leading fund management group, Caterpillar, the world leading engineering group, and Veolia, the UK leader in environmental solutions, to deliver its diversified and profitable portfolio.

Headquartered in Jersey, REG was admitted to trading on AIM, a market operated by the London Stock Exchange, in May 2005 (AIM: WIND).