5th Dec 2013 15:17
News Release Dec 5th 2013
RENEWABLE ENERGY GENERATION WELCOMES GOVERNMENT'S CONTINUING COMMITMENT TO RENEWABLE ENERGY SECTOR
The Board of Renewable Energy Generation Limited ("REG") (AIM: WIND), the UK renewable energy group, notes the Government's announcement on Wednesday concerning support levels for onshore wind under the Electricity Market Reform (EMR) programme. Whilst the reduction of circa 5% in the strike price is generally unhelpful and may impact on more marginal projects being developed by the industry post 2017, REG does nonetheless welcome the clarity that the announcement brings in terms of setting support levels for the next five years.
With this support now confirmed, REG remains fully committed to delivering its substantial portfolio of onshore wind projects, including over 140MW currently awaiting a planning determination.
Andrew Whalley Chief Executive Officer said "the Government's announcement demonstrates that onshore wind remains highly cost competitive, helping to deliver lower bills, a cleaner environment and reduced energy imports through the utilisation of an indigenous resource".
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Enquiries:
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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 |
Cenkos (Corporate Broker) Bobbie Hilliam/Max Hartley | +44 (0)20 7397 8900 |
Broker Profile Simon Courtenay | +44 (0)20 7448 3244 |
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