REG completes 2nd tranche of wind farm financing (2834U)

TIDMWIND

RNS Number : 2834U

Renewable Energy Generation Ltd

20 December 2011

Renewable Energy Generation Ltd

REG completes project financing of three UK wind farms

Renewable Energy Generation Limited ("REG") (AIM: WIND), the UK renewable energy group, today announces that it has completed the project financing of three operational wind farms. The projects are Goonhilly Downs (12MW), High Haswell (4MW) and Loscar (4.5MW), all constructed in 2010. The project financing is for GBP25m repayable in full over 15 years at an all in rate of 5.9% and is provided by The Co-operative Bank.

Andrew Whalley, Chief Executive Officer of REG, said: "We are delighted to be able to continue our relationship with The Co-operative Bank, which also provided financing for five older REG wind farms earlier this year.

"The equity released will be reinvested in new projects and REG remains firmly on track to meet its stated three-year goal of committing GBP100m to new UK renewable energy projects by the end of 2012."

James Sutcliffe, Senior Manager at The Co-operative Bank's Renewable Energy team, said: "We are extremely pleased to be able to support REG on its latest financing and look forward to working with the company again as it continues to develop its portfolio of renewable energy projects."

Enquiries:

 
 Renewable Energy Generation Limited 
  Andrew Whalley, Chief Executive Officer 
  David Crockford, Finance Director              +44 (0)1483 901 
  Ian Lawrence, Communications Manager            790 
 Smith & Williamson Corporate Finance Limited 
  (Nominated Adviser)                            +44 (0)117 376 
  Nick Reeve / Martyn Fraser                      2213 
 Evolution Securities (Corporate Broker)         +44 (0)20 7071 
  Garry Levin / Alex Garton / Stuart Andrews      4300 
 City Profile                                    +44 (0)20 7448 
  Simon Courtenay                                 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

This information is provided by RNS

The company news service from the London Stock Exchange

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