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RWE Renewable Eng. (See LSE:WIND)

65.00
0.00 (0.00%)
21 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Renewable Eng. (See LSE:WIND) LSE:RWE London Ordinary Share GB00B0717F94 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 65.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

International Power Buys Canadian Wind Farm Developer For GBP69 Million

22/10/2009 7:44am

Dow Jones News


Renewable Energy Generation (LSE:RWE)
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International Power PLC (IPR.LN), an independent power generation company, announced Thursday it has successfully completed the acquisition of AIM PowerGen Corporation, an independent Canadian wind farm developer, from Renewable Energy Generation Limited (RWE.LN) for a total cash consideration of C$119 million (GBP69 million).

MAIN FACTS:

-The non-recourse debt financing for the 40MW Harrow project has now been successfully completed, resulting in an enterprise value of C$241 million (GBP139 million).

-The acquisition is expected to be immediately free cash flow positive, and earnings accretive once the Harrow project construction programme completes in 2010.

-The AIM portfolio is concentrated in Ontario, with 40MW of wind farms in operation in addition to the Harrow project, which has already commenced construction and is on plan for completion in the first half of 2010.

-AIM also has an advanced development pipeline of 1,200MW in Ontario and across Canada.

 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com 
 
 
 

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