WIND Renewable Eng.

 

TIDMWIND 
 
RNS Number : 6766F 
Renewable Energy Generation Ltd 
18 January 2010 
 

 
 
 
 
Press Release 
18 January 2010 
 
 
Renewable Energy Generation Ltd 
 
 
Acquisition of fully consented site and operational update 
 
 
 
 
Renewable Energy Generation Limited ("REG" or the "Company") (AIM: WIND), the UK 
renewable energy group, today provides an update on the business following 
recent developments. 
 
 
Acquisition of consented site 
 
 
REG has acquired a fully consented wind site at High Haswell in County Durham 
for a cash consideration of GBP0.8m. It is anticipated that two 2MW turbines 
will be installed on the site with expected combined output of approximately 
12GWh per annum. Turbines are being ordered and the project is expected to 
become operational towards the end of calendar 2010. 
 
 
Turbine orders 
 
 
REG is experiencing a favourable environment for turbine procurement at present 
and has placed an order with Acciona of Spain for three 1.5MW turbines for its 
fully consented site at Loscar near Rotherham. Once operational, this site is 
expected to produce approximately 11GWh of output per annum. Project completion 
is expected in autumn 2010. 
 
 
A turbine order for the Company's consented site at Goonhilly Downs is currently 
being negotiated and is expected to be closed within the next few weeks. 
 Delivery is expected in late summer 2010 with operation scheduled to commence 
in autumn 2010.  When complete this site is forecast to produce approximately 
29GWh of output per annum. 
 
 
It is anticipated that these three developments will almost double REG's 
operational output from wind in the UK.  In addition, REG has a number of other 
projects nearing planning determination and is optimistic that further 
significant capacity will be consented this calendar year. 
 
 
The Company aims to invest around GBP100 million of debt and equity into UK wind 
projects over the next three years and is in discussion with a number of banks 
regarding a long term structured financing facility. 
 
 
Operations from wind 
 
 
Output fromREG's operational wind sites in the UK was slightly ahead of 
management's expectations during the first half of the current year due to 
higher wind levels. A further update will be provided with the Company's interim 
financial results, which will be published on 18 March 2010. 
 
 
REG Bio-Power 
 
 
REG Bio-Power generated 2.78GWh of output during the first half of the year from 
its two operational plants at Hockwold and Bentwaters. The business has 
continued to invest in research and development although this is expected to 
reduce in the second half of the year as the remaining units at the Bentwaters 
project become fully operational following completion of environmental 
permitting. Additionally, REG Bio-Power's recently announced project with Port 
of Dover Authority will commence generation in Q1 2010. 
 
 
In order to provide sufficient high quality fuel, processed in accordance with 
its End of Waste accreditation from the Environment Agency, REG Bio-Power will 
start construction of a new oil processing facility at Hockwold in Norfolk. This 
will allow REG Bio-Power to process around 15,000 tons of LF 100 per annum, 
enough to operate around 15MW of renewable energy facilities. The cost of this 
project will be approximately GBP0.8m and will be funded from internal 
resources. 
Commenting on developments, Andrew Whalley, Chief Executive Officer, said: 
 
 
"We are delighted with the acquisition of High Haswell.  The site is highly 
energetic and will provide a sound contribution to local renewable energy 
targets in County Durham. 
 
 
"The market for turbine procurement is favourable at present and we are 
delighted to be able to work with the Spanish turbine manufacturer Acciona on 
our project at Loscar.  We are in the process of securing machines for High 
Haswell together with the repowering of our existing site at Goonhilly Downs in 
Cornwall.  These sites, together with Loscar, will thus become operational 
during 2010. 
 
 
Ends 
 
 
+-------------------------------------------+----------------------------+ 
| Contacts:                                 |                            | 
+-------------------------------------------+----------------------------+ 
| Renewable Energy Generation Ltd           | Tel: 01483 901 790         | 
+-------------------------------------------+----------------------------+ 
| Andrew Whalley, Chief Executive Officer   |                            | 
+-------------------------------------------+----------------------------+ 
| David Crockford, Finance Director         |                            | 
+-------------------------------------------+----------------------------+ 
|                                           |                            | 
+-------------------------------------------+----------------------------+ 
| Numis Securities Ltd                      | Tel: 020 7260 1000         | 
+-------------------------------------------+----------------------------+ 
| Nominated Advisor: Simon Blank / Hugh     |                            | 
| Jonathan                                  |                            | 
+-------------------------------------------+----------------------------+ 
| Corporate Broker:  David Poutney /        |                            | 
| Charlie Farquhar                          |                            | 
+-------------------------------------------+----------------------------+ 
|                                           |                            | 
+-------------------------------------------+----------------------------+ 
| Hogarth                                   | Tel: 020 7357 9477         | 
+-------------------------------------------+----------------------------+ 
| Sarah MacLeod                             |                            | 
+-------------------------------------------+----------------------------+ 
| Julian Walker                             |                            | 
+-------------------------------------------+----------------------------+ 
| Vicky Watkins                             |                            | 
+-------------------------------------------+----------------------------+ 
 
 
 
 
Notes to Editors 
 
 
Renewable Energy Generation Ltd (REG) is a UK orientated renewable energy group. 
The Group's main business is the development, construction and operation of wind 
farms in the UK and generating power from refined used cooking oil in the UK. 
 
 
  *  The Cornwall Light & Power Co. Ltd: based in Cornwall, UK, it currently operates 
  seven wind projects in Cambridgeshire, Cornwall, County Durham, Cumbria and 
  Gwynedd, with a total capacity of 21.3MW and has a development pipeline of 
  around 350MW. 
 
 
 
  *  REG Bio-Power UK Ltd: based in Nottingham, UK: it operates electricity 
  generation plant fuelled by 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 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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