REH acquires wind farm

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Renewable Energy Holdings has completed the acquisition of an 8MW wind farm in Germany from enXco

Isle of Man headquarted

Renewable Energy Holdings

(REH) has completed the acquisition of an 8MW wind farm in

Kirf, Germany




This acquisition is in addition to REH's existing 32.5MW wind farm, located in Kesfeld, near Kirf, Germany. REH now has the capacity to generate 40.5MW from its wind assets in Germany, with plans to increase this to 47.4MW by April 2008.

The Kirf wind farm was purchased for €10.5m. It consists of four MM92 Repower turbines, each with 2MW capacity. These turbines have been in operation since 1 June 2007 and are reported to be performing ahead of management's expectations. According to German EEC law, Kirf is entitled to a tariff of €81.90 per MW over a period of 20 years and has entered into a grid connection contract with RWE. Management expects Kirf to achieve a wind load factor of 27 per cent.

Mike Proffitt, chief executive of REH said: ‘We are delighted to have completed the purchase of the Kirf wind farm. The site is ideal for a wind farm, the evidence of which is that production in the first few months has already exceeded our original expectations. Our experience at Kesfeld has shown us that grid connection facilities in the area are of the highest standard and we look forward to building on the results we have already achieved in the German market.’

REH is an international company established to be an operator of, and undertake active investment in, both proven and innovative renewable energy technologies. In addition to its investments in Germany, REH is at various stages of development of further wind farm sites in Poland, Hungary and Wales.