LONDON--Renewable Energy Generation Ltd (WIND.LN), a U.K.
renewable energy developer and operator, said Tuesday that its
subsidiary REG Bio-Power has successfully extended its contract
with National Grid PLC (NG.LN) to provide Short Term Operating
Reserve for an additional 12 months to April 2015.
MAIN FACTS:
-Short Term Operating Reserve or STOR allows National Grid 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 utilization 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.
-Renewable Energy Generation shares at 0940 GMT traded flat at
68.0 pence, valuing the company at GBP69.7 million.
-Write to Razak Musah Baba at razak.baba@dowjones.com
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