Renewable Energy Generation Limited, the renewable energy group, announced last week the sale of its 4.5MW ground-mounted solar project at Goonhilly Downs in Cornwall to a fund managed by BlackRock for an upfront consideration of £5.0 million and contingent deferred consideration of up to £0.7 million.
The scheme, located adjacent to the long-standing REG-operated wind farm, was constructed by juwi Renewable Energies Ltd and has been successfully accredited under the Feed-in Tariff regime. This sale is the third such transaction under REG's ongoing partnership with BlackRock established in 2013.
Andrew Whalley, REG's Chief Executive Officer, said:
Renewable Energy Generation Ltd (REG) is an AIM listed 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 currently operates 11 wind projects in Cambridgeshire, Cornwall, County Durham, Yorkshire, Lancashire, Cumbria and Gwynedd, with a total capacity of 34.7MW as well as 3 projects on behalf of its partner BlackRock totalling 28MW. REG also has around 200MW of projects in the planning system awaiting consent.