Renewable Energy Generation Ltd REG secures contract for solar project
02 March 2015 - 6:01PM
RNS Non-Regulatory
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) +44 (0)20 7397
Bobbie Hilliam 8900
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: 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
END
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