20th Aug 2014 13:03
LONDON (Alliance News) - Renewable Energy Holdings PLC saw its shares jump Wednesday after it said the Planning Inspectorate has accepted its application for examination of the order granting development consent for its proposed Welsh Mynydd y Gwynt wind farm project.
The Planning Inspectorate for England and Wales is an executive agency of the Department for Communities and Local Government of the UK government. It is responsible for determining final outcomes of town planning and enforcement appeals and public examination of local development plans.
Companies must apply for an order granting development consent to the Planning Inspectorate.
The application is for 27 wind turbines of 3 megawatts to 3.3 megawatts each, giving a total capacity of between 81 megawatts and 89.1 megawatts.
Renewable Energy said the project has now proceeded to the pre-examination stage, which takes approximately three months from the developer's formal notification and publicity of an accepted application. That process is then followed by a six month examination stage.
The UK-based renewable energy company signed a conditional sale and purchase agreement with Mynydd y Gwynt Ltd in November 2008, followed by an amendment agreement in December 2011 which gave it the option to buy Mynydd y Gwynt Ltd.
Renewable Energy shares were up at 13.3 pence Wednesday afternoon, at 3.40 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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