29th Sep 2011 07:00
Renewable Energy Generation Ltd
("REG" or "the Company")
Leeds North plant ready to operate
Renewable Energy Generation (AIM: WIND), the UK renewable energy developer and operator, announces that its 2MW bioliquid-powered plant at Leeds North is ready to begin operation under the Company's two-year National Grid contract.
Subsidiary REG Bio-Power won a National Grid contract in March to supply Short Term Operating Reserve (STOR) to meet unscheduled power demand. Under the contract REG Biopower receives capacity payments for standing by and additional utilisation payments for power generated during STOR periods.
Leeds North's commissioning brings REG's STOR capacity up to 8MW, complementing the existing 6MW of capacity at Bentwaters in Suffolk.
In addition REG Bio-Power will be allowed to run its plant opportunistically outside specified STOR hours.
REG Chief Executive Officer Andrew Whalley said:
"The STOR market represents an exciting opportunity for REG and ideally complements our wind business so I am delighted that Leeds North is ready on schedule to generate renewable electricity.
Leeds North will run on our patented proprietary bioliquid recovered from recycled waste cooking oil, which has now delivered over 60,000 operational hours on our three existing sites."
Enquiries:
Renewable Energy Generation Limited Andrew Whalley, Chief Executive Officer David Crockford, Finance Director Ian Lawrence, Communications Manager
| +44 (0)1483 901 790 |
Smith & Williamson Corporate Finance Limited (Nominated Adviser) Nick Reeve / Martyn Fraser
| +44 (0)117 376 2213 |
Evolution Securities (Corporate Broker) Garry Levin / Tim Redfern / Stuart Andrews
| +44 (0)20 7071 4300 |
Caroline Cecil Associates Caroline Cecil
| +44 (0)20 7610 4110 |
Notes to editors
Renewable Energy Generation Ltd (REG) is a UK renewable energy group. Its main business is the development, construction and operation of wind farms and generating power from refined used cooking oil.
REG Windpower: based in Truro and Bath, UK, it currently operates ten wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Cumbria and Gwynedd, with a total capacity of 41.15MW and has a development pipeline of over 1,000MW.
REG Bio-Power UK Ltd: based in Nottingham, UK: it operates electricity generation plant fuelled by waste vegetable oil.
Headquartered in Jersey, REG was admitted to trading on AIM, a market operated by the London Stock Exchange, in May 2005 (AIM: WIND).
www.renewableenergygeneration.co.uk
Related Shares:
WIND.L