29 August 2014

REH wins Polish deal

01/12/2008 Robert Tyerman

Renewable Energy Holdings (REH) has entered a €2.1 million (£1.75 million) agreement to develop a wind farm site at Kobylany in Poland.

The Isle of Man-based company, which backs and operates ‘proven and innovative renewable energy technologies’, has paid an initial €100,000 to Polish concern Gamar GHL for an option to develop the site in south-east Poland, which REH says could provide up to 30 megawatts of generating capacity. AIM-quoted Renewable will pay the remaining €2 million to Gamar once the Polish company has obtained all the required planning, construction and operating permits.

REH chief executive Mike Proffitt argues that this agreement, along with the company’s recently announced 70-megawatt Welsh project, ‘consolidates our plan to have 150 megawatts of wind power within five years of our entry onto AIM’, in 2005.

Shares in REH, which turned a £1.2 million loss into a £1.1 million interim profit, fell from 63p in 2006 to 26.5p in October and have reached 39p, valuing the company at £25.6 million.

Save 50% off your first year’s subscription to Growth Company Investor magazine, and gain immediate access to all the recommendations online. Click here.

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2014

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1,044 AIM-quoted companies. The full report is available to order for £365 + VAT. Click here for more info

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Mosman is looking to take over its rival Trident

Mosman makes Trident bid 22/08/2014

Australasia-focused Mosman Oil and Gas (AIM: MSMN) has announced the terms of its bid for Australian oil play Trident Energy.

Magnolia issues production update 22/08/2014

US-focused oil play Magnolia Petroleum (AIM:MAGP) unveiled a reserves and production update.

Tags: Oil and gas

RapidCloud buys Exxelnet 15/08/2014

Malaysian cloud computing specialist RapidCloud (AIM:RCI) has completed the acquisition of Singaporean SEO outfit Exxelnet.

Tags: Acquisitions, Technology

Zanaga gets mining approval 15/08/2014

Mining group Zanaga Iron Ore (AIM:ZIOC) has won approval for a licence within the Republic of the Congo.

Tags: Mining

Seeing Machines starts Chile JV 08/08/2014

Seeing Machines (AIM:SEE), the company which develops technology that monitors driver fatigue, has begun a joint venture partnership in Chile. 

Tags: Mining, Technology

Aureus gives Ebola update 08/08/2014

Aureus Mining (AIM:AUE), which operates in Liberia, has given an update on how the disease has affected its operations.

Tags: Mining

More News