British investor raises more on capital markets to finance project development

British renewables investment company Renewable Energy Holdings (REH) has raised another £2.5 million on London's Alternative Investment Market (AIM). The company is to use the funds to progress several deals, it says, including acquisition of a landfill gas project and a wind farm in Northern Ireland. REH is also looking at a 454 MW wind farm in Hungary, says the company's Mike Profitt. He adds that REH is interested in any renewable energy projects; "We have authorised 100 million shares and will raise money as and when we need it." The first shares were issued at £0.50 per share in February 2005, but in the recent fund raising, shares were offered at £0.60 per share, reflecting the company's increased value, he says.