Renewable Energy Generation Ltd Extension to STOR Contract (7864Z)

TIDMWIND

RNS Number : 7864Z

Renewable Energy Generation Ltd

12 March 2013

Renewable Energy Generation Ltd

Extension of Contract

Renewable Energy Generation (AIM: WIND), the UK renewable energy developer and operator, today announces that its subsidiary REG Bio-Power (REG Bio) has successfully extended its contract with National Grid (NG) to provide Short Term Operating Reserve (STOR) for an additional 12 months to April 2015.

STOR allows NG to source reserve power in pre-specified seasonal time periods to meet actual demand when greater than forecasted or during unexpected plant breakdowns. Under the contract REG Bio will receive an availability payment for standing by during STOR periods and an utilisation payment for any power generated. In addition REG Bio will be allowed to run its plant opportunistically outside STOR hours.

REG Bio's existing 6MW Bentwaters plant in Suffolk and 2MW Leeds facility will continue to operate the STOR contract.

Andrew Whalley, REG Chief Executive Officer, said: "REG Bio is perfectly suited to providing flexible, renewable power to meet NG's requirement for short term reserve so we are very pleased to be extending our relationship for an additional year."

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 
  Martyn Fraser                                   2213 
 Cenkos (Corporate Broker)                       +44 (0)20 7397 
  Bobbie Hilliam                                  8900 
 City Profile                                     +44 (0)20 7448 
  Simon Courtenay / Abigail Genis                  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: currently operates 12 wind projects (57.12MW) across the UK, including two under an asset management agreement, with a further 10MW under construction and around 1000MW of projects in development.

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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