Renewable Energy Generation Ltd
16 October 2007
16 October 2007
Renewable Energy Generation Ltd
("REG", "the Company" or "the Group")
Sale of the Tymien Wind Project
Renewable Energy Generation (AIM: RWE), the developer, owner and operator of
renewable energy projects, announces it has sold to its equity partner Invenergy
its position in the Tymien wind project in Poland for a cash consideration of
£10m.
The 50MW Tymien wind farm is located on the Baltic coast and was completed on
time and to budget in early 2006. REG invested £8.06m into the project and
dividends have been received totalling just under £700,000.
Andrew Whalley, CEO, says "The disposal of Tymien following its successful
development is opportune and timely. It provides an early, handsome return on
investment together with cash which can be redeployed immediately in the
Company's accelerating wind project construction programme in the UK and
Canada."
Enquiries
Renewable Energy Generation
Andrew Whalley, Chief Executive Officer +44 (0) 1483 400 425
Numis Securities Limited +44 (20) 7260 1000
Charlie Farquhar
David Shapton
This information is provided by RNS
The company news service from the London Stock Exchange