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RNS Number : 3138S

Renewable Energy Generation Ltd

07 July 2015

7 July 2015

Renewable Energy Generation Limited ("the Company" or "REG")

Contract Signed for Construction of New UK Solar Project

Renewable Energy Generation Limited, the AIM quoted UK focused multi-divisional renewables company, is pleased to announce it has signed an engineering, procurement and construction contract ('EPC') with Juwi Renewable Energies Ltd ('Juwi') for its 2.6MWp solar project at Mendennick, Cornwall ('Mendennick'). This update is in line with the Company's strategy to increase its existing 111MW of operational UK renewable energy projects across wind, bio-power and solar to 300MW within three years.

Under the terms of the EPC contract, Juwi will assume responsibility for the supply, installation and commissioning of equipment at the ground-mounted solar PV Mendennick project. In addition Juwi has been awarded a five year contract to provide long term operations and maintenance services. Construction has commenced at the project which is due to be completed by the end of 2015. Once commissioned, Mendennick will generate around 2.7GWh per annum and will operate under the small scale feed-in-tariff regime.

REG's CEO Andrew Whalley said, "Mendennick is part of a 132.4MW pipeline of consented wind, biopower and solar projects at various stages of procurement and construction which, once commissioned, will increase REG's total renewable power generating capacity to 243.6MW. We are therefore on course to materially increase our diversified portfolio of 111MW of operational renewable energy projects, and in the process transform REG's revenue profile and already substantial asset backing. This in turn will provide us with a strong platform from which we can continue the roll-out of our strategy and build REG into one of the UK's leading independent renewable energy providers."

For further information please visit www.renewableenergygeneration.co.uk or contact the following:

 
 Andrew Whalley 
  Chief Executive     Renewable Energy Generation    +44 (0)1483 901 
  Officer              Ltd                            796 
 David Crockford      Renewable Energy Generation    +44 (0)1483 901 
  Finance Director     Ltd                            796 
 Ian Lawrence 
  Communications      Renewable Energy Generation    +44 (0)1483 901 
  Manager              Ltd                            796 
                                                     +44 (0)20 7397 
 Bobbie Hilliam       Cenkos (Broker)                 8900 
                      Smith & Williamson 
                       Corporate Finance Limited     +44 (0)117 376 
 Martyn Fraser         (Nominated Adviser)            2213 
                      St Brides Partners             +44 (0)20 7236 
 Felicity Winkles      (Public Relations)             1177 
                      St Brides Partners             +44 (0)20 7236 
 Frank Buhagiar        (Public Relations)             1177

Notes to editors

Renewable Energy Generation Ltd (REG) is an AIM listed UK focussed multi-divisional renewables company. The Company has four distinct divisions: wind, bio-power, solar and asset management which offer multiple revenue streams. REG currently operates 111MW of power in UK and it is the Company's strategy to grow its portfolio to 300MW across its four divisions in the next three years.

REG Windpower: Currently operates 11 wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Lancashire, Cumbria and Gwynedd, with a total capacity of 34.7MW. REG has a growing portfolio of wind sites ranging in size from single turbine sites to six turbine wind farms. It has recently signed an agreement with Gamesa Eólica, S.L, a leading global wind turbine manufacturer, to supply 19 wind turbines for five new wind farm sites which once in operation will see wholly owned wind power operations almost double to 72.7MW. Furthermore REG has approximately 200MW of wind projects in the planning system awaiting consent.

REG Bio-Power UK Ltd: Generates renewable energy through a patented bioliquid recovered from used cooking oil. REG operates 26MW in the UK to generate power and heat. Projects generate income from sale of power; ROCs, LECs and embedded benefits; and contracts with the National Grid STOR service.

REG Solar: Solar power generation in the UK, REG operates 4.5MW solar PV on behalf of BlackRock through its Asset Management division. REG has a further 61.6MW consented or in procurement.

REG Asset Management: Full spectrum construction and asset management of wind and solar projects on behalf of third parties in the UK. REG has 60.5MW of projects managed for BlackRock - 45MW (+10MW pipeline) wind and 4.5MW solar with management fees linked to % of revenue generated per project.

Furthermore REG works with best-in-class blue chip partners, including BlackRock, the world leading fund management group, Caterpillar, the world leading engineering group, and Veolia, the UK leader in environmental solutions, to deliver its diversified and profitable portfolio.

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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