14th Nov 2007 07:01
Renewable Energy Holdings plc14 November 2007 14 November 2007 Renewable Energy Holdings plc ("REH" or "the Company") Bryn Posteg Landfill Gas site signs new supply contract Renewable Energy Holdings plc (AIM: REH), the AIM quoted investor and operatorof proven and innovative renewable energy technologies, is pleased to announcethat Gwynt Cymru Limited, a wholly owned subsidiary of the Company and the operator of the Bryn Posteg landfill gas site in Wales, has signed a new PowerPurchase Agreement ("PPA") with EDF Energy. The current PPA will expire on 30 November 2007. The new contract with EDFEnergy secures a significantly higher unit price for the next 16 months. Thehigher unit price, in conjunction with new initiatives being implemented toincrease production levels at Bryn Posteg from current output of 1MW, means thatGwynt Cymru Limited is expected to generate considerably increased revenues in2008. Commenting on the new PPA, Mike Proffitt, Chief Executive of REH said: "Weacquired this asset in the certain knowledge that we could increase the gasproduction, and renew the then existing PPA with a much higher price. This newPPA more than doubles the old price and the resultant revenue increase will flowto the bottom line 100%." - ends - For further information please contact: Mike Proffitt, Chief ExecutiveRenewable Energy Holdings plc Tel: 01624 641199 Katherine RoePanmure Gordon - Broker to REH Tel: 020 7459 3600 Richard SwindellsNabarro Wells - Nominated Adviser to REH Tel: 020 7710 7400 Emma Kane / Samantha Robbins / Paul DulieuRedleaf Communications Tel: 020 7822 0200 Notes to Editors About Renewable Energy Holdings • Renewable Energy Holdings is an international company established to be an operator of, and undertake active investment in, both proven and innovative renewable energy technologies. • REH owns two operational wind farm sites is 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 1MW methane Landfill Gas Project in Powys, Wales. The long-term objective for this project is to increase production to 5-6MW. • 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. • 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 Market in February 2005. • Further information can be found at www.reh-plc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
REH.L