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REG Windpower & BlackRock

Posted by on in Renewable Energy Blog
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Nsure Renewables are pleased to congratulate their clients Renewable Energy Generation Limited (REG) who have entered a long term strategic partnership with a fund managed by BlackRock.

The Transaction comprises three key components:


The sale of two of REG's newly built wind farms at Sancton Hill (10MW) and South Sharpley (6MW).

A long term Asset Management Agreement under which REG will manage the operations of Sancton Hill and South Sharpley.

An Asset Investment Agreement which provides a framework for future co-operation between REG and BlackRock, under which BlackRock may acquire wind farms which REG may elect to sell in the future.


Andrew Whalley, Chief Executive Officer of REG, said:
"We are delighted to enter a long term relationship with BlackRock. REG has invested heavily in its development pipeline and is now seeing the benefits of this expenditure in terms of new planning applications and consents. A strategic partnership with BlackRock allows us to continue to recycle capital to fund future growth and enhance returns to shareholders. The transaction demonstrates the inherent value of the REG business, whilst the Asset Management Agreement allows REG to continue to manage the projects on a day to day basis".

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