Renewable Energy Generation Sells Denzell Downs Wind Farm to BlackRock
19 February 2015 - 11:25PM
Dow Jones News
LONDON--Renewable Energy Generation Ltd. (WIND.LN), said
Thursday it sold its 10MW Denzell Downs wind farm to BlackRock
Renewable Income U.K. for GBP24.4 million.
REG said it will oversee construction of the project and operate
the completed wind farm on behalf of BlackRock as an asset
manager.
"The transaction provides REG with significant additional
capital, with the proceeds to be invested in our portfolio of
consented sites," said Chief Executive Andrew Whalley.
"This transaction supports our aim of building long term
operational cash flows so that we are in a position both to return
value to our shareholders through increased dividends whilst
maintaining investment in the business," he added.
Shares at 1153 GMT were unchanged.
Write to Ed Ballard at ed.ballard@wsj.com
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