Completion of disposal - update

18 January 2011

Renewable Energy Holdings plc

("REH" or the "Company")

Completion of disposal - update

Further to the announcement of 29 September 2010, the board of directors of REH (the "Board") is pleased to announce that the conditions necessary to facilitate the release of the funds held in escrow, in respect of Kesfeld and Kirf, being €1,339,000 and €416,000 respectively, have been satisfied. Accordingly, these funds will be paid to REH by the escrow agent following the first payment of the bonus tariff, by the grid operator, to Allianz which, it is anticipated, will be on or around 20 February 2011.

The Board is also pleased to announce that the conditions necessary to secure the release of the €350,000 performance bond have been satisfied. Accordingly, the bond has been returned to the bank and REH has been released from its obligation to retain a collateral deposit of €350,000.

The Board further announces that REH's results for year ended 31 December 2010 will be announced on 28 March 2011.

Mike Proffitt, Chief Executive Officer of REH said:

"We are pleased to see the release of this working capital to the Company. There are now two amounts remaining in escrow, namely, €100,000 with respect to turbines 3 and 12 and €135,000 with respect to the waiver of the decommissioning security. The Board is confident that both of these amounts will be released to the Company in due course".

- Ends -

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