16th Oct 2007 14:27
Renewable Energy Generation Ltd16 October 2007 16 October 2007 Renewable Energy Generation Ltd ("REG", "the Company" or "the Group") Sale of the Tymien Wind Project Renewable Energy Generation (AIM: RWE), the developer, owner and operator ofrenewable energy projects, announces it has sold to its equity partner Invenergyits position in the Tymien wind project in Poland for a cash consideration of£10m. The 50MW Tymien wind farm is located on the Baltic coast and was completed ontime and to budget in early 2006. REG invested £8.06m into the project anddividends have been received totalling just under £700,000. Andrew Whalley, CEO, says "The disposal of Tymien following its successfuldevelopment is opportune and timely. It provides an early, handsome return oninvestment together with cash which can be redeployed immediately in theCompany's accelerating wind project construction programme in the UK andCanada." Enquiries Renewable Energy GenerationAndrew Whalley, Chief Executive Officer +44 (0) 1483 400 425 Numis Securities Limited +44 (20) 7260 1000Charlie FarquharDavid Shapton This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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