25th Jan 2006 10:15
Renewable Energy Holdings plc25 January 2006 25 January 2006 Renewable Energy Holdings plc AGM Statement Renewable Energy Holdings plc ("REH" or the "Company"), the AIM listed investorand operator of proven and innovative renewable energy technologies, today heldits first Annual General Meeting at 10:00am at the offices of Corporate SynergyPlc, 30 Old Broad Street, London, EC2N 1HT. All resolutions were passedunanimously. Following the formal proceedings of the AGM, Mike Proffitt, Chief Executive ofREH, made the following statement updating shareholders on REH's progress: "I am pleased to report on an exciting first year of operation for the Company.Our 27.9MW wind park at Kesfield has been generating revenues for the groupsince 1 January 2006. Ten of the thirteen turbines are now built, with five ofthese having been connected to the German national grid with power flowing toRWE, the third party offtake utility. It is anticipated that all of the thirteenturbines will be connected to the grid within the next two weeks, resulting inthe first stage of the Kesfield project being fully operational. It is stillexpected that an additional 4.6MWs will be operational by the end of July 2006. "As reported in our preliminary results the CETO Device, which is designed tocapture wave energy, convert such energy into high pressure seawater leading toonshore generation of electricity from existing technology, has been launched,taken to a sea-bed site, and tested successfully with pressurised watertransmitted to shore at pressures of 620 - 850 PSI. Commercial design is nowwell under way and we remain on plan to develop a commercial CETO design by theend of 2006. "We are pleased that REH has now established itself in the renewable energysector and is being contacted by late stage renewable energy project developersregularly. We are currently looking at a number of projects, one of which,located in Hungary, is at an advanced stage, and if successful would double theMW output of the Company once fully operational." ENDS Renewable Energy Holdings plc Binns & Co PR Ltd Corporate Synergy PlcMike Proffitt, Chief Executive Paul McManus John Prior Tel: 020 7786 9600Tel: 01624 64 11 99 Mob: 07980 541 893 Tel: 020 7448 4400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
REH.L