9th Sep 2013 09:09
LONDON (Alliance News) - Renewable Energy Generation Limited said Monday it had sold its operational wind farm at Goonhilly Downs in Cornwall for GBP25.1 million to a fund managed by BlackRock.
Consideration consists of GBP14.5 million in assumed debt, plus net cash of GBP10.6 million, REG said.
Under the terms of its existing asset management agreement with BlackRock, REG will continue to manage operations at the wind farm, which contributed GBP1.1 million in pretax profit to REG in the year ended June 20.
Renewable Energy Generation's shares were trading down 0.60 pence at 70.40 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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