22nd Jan 2009 07:00
22 January 2009
Renewable Energy Holdings plc ("REH" or "the Company")
Appointment of Director
Renewable Energy Holdings plc (AIM: REH), the AIM quoted investor and operator of proven and innovative renewable energy technologies, is pleased to announce that Paris Mouratoglou, Chairman of EDF Energies Nouvelles SA, is to join the Board of REH as a Non Executive Director effective 1st February 2009.
As previously announced, EDF Energies Nouvelles SA has invested £3 million in REH and has entered into a Collaboration Agreement as a Joint Venture partner to develop electricity generation projects using CETO technology, REH's unique wave energy device, in the northern hemisphere and Ile de Reunion.
Mike Proffitt, Chief Executive of REH, commented:
"I am delighted that the Board is being strengthened by the addition of Paris Mouratoglou, whose credentials in the renewable energy sector are considerable. This appointment comes at the beginning of what the Board believes to be the final months of testing for CETO, during which time commercial deployment sites are being identified and contracted by the REH/EDF EN joint venture development company."
Paris Mouratoglou commented:
"This greater involvement in REH comes at a decisive stage of the CETO project. EDF Energies Nouvelles has great hopes for this innovative process to produce energy from waves which it hopes to deploy in several sites."
Pâris Mouratoglou, aged 68, holds the following directorships:
EDF Energies Nouvelles S.A.
Sarl SIIF (Luxembourg)
S.A. TENESOL
S.A.S. Apollon Solar
Jacques Giordano Industries
S.A. EUROSIIF
S.C.I.F.M.K.
Hotel Victoria Sa
Sarl Electrique de l'Atlantique*
S.A.R.L. ERE*
S.A. SIIF Ghana*
S.A. EDF EN Outre Mer*
S.A. TENESA*
S.A.R.L. TREE*
S.A. EnR*
S.A.R.L Hidroelectrica de Pina*
S.A Hidromedia*
S.A. Recursos Energeticos*
S.A. SIIF Andina*
AIR*
Havsbaserad Vindkraft i Sverige AB (HVS)*
First Windfarm Holdings Limited*
Cemmaes Windfarm Limited*
Llangwryryfon Windfarms Limited*
Cold Northcott Windfarms Limited*
Great Orton Windfarm Limited*
Cumbria Wind Farms Limited*
EDF EN UK*
Tregulland Windfarms Limited*
Eoliki Iliokastrou*
Batliboi enXco Pvt. Limited*
EnXco A/S*
Paris Mouratoglou has held the following directorships during the past five years:
Dong Energy Burbo (UK) Limited *
S.A. Energie Solaire de France*
Societe d'Etudes et de Realisation de Port de Plaisance de Saint Raphael
* a subsidiary of EDF Energies Nouvelle S.A.
There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.
For further information please contact:
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Mike Proffitt, Chief Executive |
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Renewable Energy Holdings plc |
Tel: 01624 641199 |
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Richard Swindells/ Andrew Craig |
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Ambrian Partners - Nominated Adviser & Broker to REH |
Tel: 020 7634 4700 |
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Samantha Robbins / Paul Dulieu / Anna Dunkin |
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Redleaf Communications |
Tel: 020 7566 6700 |
Notes to Editors
About Renewable Energy Holdings plc Renewable Energy Holdings ("REH") is an international company established to be an investor in and operator of both proven and innovative renewable energy technologies. REH owns two operational wind farm sites in Germany, Kesfeld (32.5MW) and Kirf (8MW). In addition, REH is at various stages of development of further wind farm sites in Poland and Wales. REH owns a methane Landfill Gas Project in Powys, Wales which is at an early stage of gas collection, currently producing at 1MW and which is expected to increase as the landfill matures. CETO is REH's innovative wave power technology. It is the first wave power converter to sit on the seabed, where it is invisible, safe from storms and ocean forces, and self contained. Unlike other wave energy technologies that require undersea grids and costly marine qualified plant, CETO requires only a small diameter pipe to carry high pressure seawater ashore to either a turbine to produce electricity, or to a reverse osmosis filter to produce fresh water. CETO is currently deployed off Fremantle, Western Australia undergoing commercial testing. The Directors and executive team of REH have extensive experience in both the conventional and renewable energy sectors, both in the UK and overseas, and through their experience have built a broad international network of relationships with individuals, companies, governments and lobby groups. The Company was incorporated in the Isle of Man on 8 October 2004 and listed on the London Stock Exchange's AIM in February 2005. Further information can be found at www.reh-plc.com
Recent news Potential CETO development site in Vancouver, Canada - an Investigative Permit has been granted by British Columbia's Ministry of Agriculture and Lands to conduct a wave energy investigation over an area of approximately 475 hectares within the Clayoquot District, off the west coast of Vancouver Island in British Columbia, Canada. Wind farm development in Wales - REH has entered into a conditional sale and purchase agreement with Mynnydd y Gwynt regarding the development of the wind farm site at Llangurig, mid-Wales. The site is believed to be capable of providing up to 69MW of generating capacity. An independent wind study has indicated a net capacity factor of 36% for this site. This capacity factor compares well against the UK average of 28-32% and is on a par with north west Scotland at the top of the range. Wind farm development in Poland - REH has entered into a conditional sale and purchase agreement with Gamar GHL to develop a wind farm site in Kobylany, Poland. The site is believed to be capable of providing up to 30MW of generating capacity and an independent wind study has indicated a net capacity factor of 32% for this site. This capacity factor compares well against the European average of 26-30%.
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