Oct. 10 (Bloomberg) — Renewable Energy Generation Ltd., a
British low-carbon asset developer, sold two U.K. wind farms to
BlackRock Inc. for 36 million pounds ($57.8 million).
The developer sold its 10-megawatt St. Breock wind park in
the Cornwall area and 8-megawatt Ramsey II wind farm in
Cambridgeshire, it said today in a statement. Under the
agreement, BlackRock will take on 21 million pounds of project
debt and REG will receive 13.1 million pounds of cash upfront
and 1.9 million pounds more to be paid once the projects start
operating next year.
REG will reinvest the money into its pipeline of approved
wind and bio-energy projects that it plans to build next year,
according to the statement.
To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net
To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Randall Hackley, Indranil Ghosh