Renewable Energy Generation Ltd Sale of Goonhilly Solar Farm (0322L)

TIDMWIND

RNS Number : 0322L

Renewable Energy Generation Ltd

01 July 2014

1 July 2014

Renewable Energy Generation Ltd

Sale of Goonhilly Solar farm

Renewable Energy Generation Limited (AIM: WIND), the renewable energy group, today announces the sale of its 4.5MW ground-mounted solar project at Goonhilly Downs in Cornwall to a fund managed by BlackRock for an upfront consideration of GBP5.0m and contingent deferred consideration of up to GBP0.7m.

The scheme, located adjacent to the long-standing REG-operated wind farm, was constructed by juwi Renewable Energies Ltd and has been successfully accredited under the Feed-in Tariff regime. This sale is the third such transaction under REG's ongoing partnership with BlackRock established in 2013.

REG will continue to manage the solar farm under a long-term asset management agreement and proceeds of the sale will be reinvested in REG's pipeline of consented renewable assets.

Andrew Whalley, REG's Chief Executive Officer, said: "Our relationship with BlackRock continues to generate shareholder value for REG, with our well-managed renewable energy projects remaining attractive investments."

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) 
  Bobbie Hilliam/Max Hartley                 +44 (0)20 73978900 
 Broker Profile                              +44 (0)20 7448 
  Simon Courtenay                             3244

Notes to editors

Renewable Energy Generation Ltd (REG) is an AIM listed 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 11 wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Lancashire, Cumbria and Gwynedd, with a total capacity of 34.7MW as well as 3 projects on behalf of its partner BlackRock totalling 28MW. REG also has around 200MW of projects in the planning system awaiting consent.

REG Bio-Power UK Ltd: 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

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