20 December 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

Brazil's electricity sector is in need of modernisation

Cyan grabs Brazil win 18/12/2014

Smart metering outfit Cyan Holdings (AIM:CYAN) has won an order for 1,000 modules in Brazil.

Ideagen raises £17.5m and nabs Gael 18/12/2014

NHS Software specialist Ideagen (AIM:IDEA) is to acquire fellow software play Gael for £18 million.

Range obtains $110m of cash while board quits 12/12/2014

Oil explorer Range Resources (AIM:RRL) has announced a package of funding worth $110 million to continue its exploration efforts while reporting a raft of resignations.

Tags: Oil and gas

Porta grabs Publicasity 11/12/2014

PR group Porta Communications (AIM:PTCM) has acquired food and drink PR concern Publicasity.

Tags: British Media

Rare Earth excited by Yangibana 03/12/2014

Rare Earth Minerals (AIM:REM) reported an update on the hunt for the minerals in Western Australia.

Tags: Mining

Universe expands to Morrisons 03/12/2014

Loyalty card and petrol forecourt technology specialist Universe Group (AIM:UNG) reported on a deal with supermarket chain Morrisons.

 

Tags: Retail, Technology

More News