Renewable Energy Generation Ltd REG secures contract for solar project

TIDMWIND

Renewable Energy Generation Ltd

02 March 2015

News Release

2 March 2015

Renewable Energy Generation Ltd

REG secures contract for solar project

Renewable Energy Generation Limited ("REG") (AIM: WIND), announces that it has secured a contract for its 12MWp Netley Landfill ground-mounted solar PV project in the first allocation round of the UK Contracts for Difference (CfD) regime. The project is being developed in partnership with Veolia, on its restored landfill site at Netley in Hampshire.

The CfD provides renewable energy generators with a 15 year index-linked price for supplying power to the grid and replaces the existing Renewables Obligation mechanism which will end in March 2015 for solar and March 2017 for other renewable technologies.

The Netley Landfill Solar project, in Hampshire, was one of three solar schemes to successfully secure a CfD for delivery in 2016-17 at a strike price of GBP79.23 per MWh.

REG expects the project to be completed by the end of 2016.

Andrew Whalley, Chief Executive Officer, said: "Today's announcement provides an element of welcome certainty as we progress our portfolio of CfD projects."

ENDS

Enquiries:

 
 Renewable Energy Generation Limited 
  Andrew Whalley, Chief Executive 
  Officer 
  David Crockford, Finance Director       +44 (0)1483 
  Ian Lawrence, Communications Manager     901 796 
 Cenkos (Corporate Broker)                [phone] 
  Bobbie Hilliam                           8900 
 Broker Profile                           [phone] 
  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: based in Truro, Bath and Guildford, UK, it 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 has around 200MW of projects in the planning system awaiting consent.

REG Bio-Power UK Ltd: based in Nottingham, UK: it operates 26MW of 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).

This information is provided by RNS

The company news service from the London Stock Exchange

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