Re: Carnegie Indonesian Vice President Visit

11 March 2011

Renewable Energy Holdings plc

("REH" or the "Company")

Re: Carnegie Indonesian Vice President Visit

Renewable Energy Holdings plc (AIM: REH), the AIM quoted investor in, and operator of, European wind power, notes an announcement released on 11 March 2011 by Carnegie Wave Energy Limited, in which REH holds 232,600,000 fully paid ordinary shares, representing 27.08% of the entire issued share capital.

"11 March 2011

Indonesian Vice President Visit to Fremantle Facility

·; Vice President Boediono inspects commercial scale CETO unit

·; Discussions held on the potential for CETO in Indonesia

·; Indonesia a potential key CETO market

Wave energy developer Carnegie Wave Energy (ASX: CWE) yesterday hosted an official visit by His Excellency Professor Doctor Boediono, the Vice President of the Republic of Indonesia, at Carnegie's Fremantle facility in Western Australia.

Vice President Boediono and his advisors toured Carnegie's private wave energy research facility at Fremantle yesterday where the Vice President inspected the CETO commercial scale unit and viewed the onshore test program in progress. Discussions were held with Doctor Boediono and senior government officials on the Indonesian power and water market and the potential for CETO throughout Indonesia.

Carnegie's Chairman, Grant Mooney who welcomed Doctor Boediono to the facility said:

"With more than 17,000 islands and a decentralised electricity network Indonesia is an example of one of the key future markets for CETO to supply clean power and water to island nations and reduce their reliance on shipped diesel. With 10 times the population of Australia but only half the installed power capacity, the Indonesian market will see strong growth as the country urbanises. its wave resource, fragmented geography and the absence of a nationwide grid, make CETO particularly suited to the Indonesian market."

About the Perth Wave Energy Project

Carnegie's Perth Wave Energy Project is located offshore Fremantle in the ocean between Garden Island and Five Fathom Bank at a depth of approximately 25 metres. Upon completion, it will be Australia's first commercial scale wave energy project.

The primary aim of the project is to demonstrate the CETO technology in commercial operation. The project site could also be a base for a desalination pilot project utilizing Carnegie's CETO technology.

About CETO

The CETO system distinguishes itself from other wave energy devices by operating out of sight and being anchored to the ocean floor. An array of submerged buoys is tethered to seabed pump units. The buoys move in harmony with the motion of the passing waves, driving the pumps which in turn pressurise water that is delivered ashore via a pipeline.

High-pressure water is used to drive hydroelectric turbines, generating zero-emission electricity. The high-pressure water can also be used to supply a reverse osmosis desalination plant, replacing greenhouse gas emitting electrically driven pumps usually required for such plants.

CETO Technology characteristics include:

·; CETO converts wave energy into zero-emission electricity and desalinated water

·; CETO is environmentally friendly, has no visual impact and attracts marine life

·; CETO is fully submerged in deep water away from popular surf breaks

About Carnegie

Carnegie Wave Energy Limited is an Australian, ASX-listed (CWE) wave energy technology developer. Carnegie is the owner and developer of the CETO Wave Energy Technology intellectual property."

Ends

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