15th Sep 2006 07:01
Renewable Energy Holdings plc15 September 2006 Renewable Energy Holdings Plc Trading Update Renewable Energy Holdings plc ("REH" or the "Company"), the AIM listed investorin, and operator of, proven and innovative renewable energy technologies, ispleased to announce that it is in discussion with enXco, a wholly ownedsubsidiary of EDF Energy Nouvelle and the company that built REH's 27.9MWWindfarm in Kesfeld, Germany, to provide turbine procurement and constructionservices to licensed and permitted projects in REH's deal pipeline. REH's previously announced 24MW windfarm in Hungary will be the first project tobenefit from this proposed arrangement and it is now expected to beginconstruction before the end of the year with commissioning late summer of 2007. REH is also pleased to announce it has reached agreement with the developers ofa 30MW Windfarm in Poland to acquire the permits, land leases, licenses andother rights to the development. REH intends to use the proposed arrangement with enXco GmbH to provide turbineprocurement and balance of plant construction services. It is expected thatconstruction will begin early 2007 with commissioning late the same year. Mike Proffitt, Chief Executive of REH said: "With recent changes to the commercial terms of turbine procurement, it wasnecessary to develop a business model that could adjust to this market change.We have an excellent working relationship with enXco GmbH and feel confidentthat the proposed arrangement will further enhance the development of ourbusiness plan". Bruno Larsen, Managing Director of enXco GmbH, said: "We have the experience and expertise to build windfarms successfully and weare very happy to work with REH throughout Europe and the UK". For further information, please contact: Renewable Energy Holdings plc Parkgreen Communications enXco GmbHMike Proffitt, Chief Executive Paul McManus Bruno LarsenTel: 01624 64 11 99 Tel: 020 7493 3716 Tel: 00 33 140 902 329 Mob: 07980 541 893 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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