Germany

Germany

UK investor REH buys first two projects in Germany

UK investor Renewable Energy Holdings (REH) has revealed that its first wind purchases are two projects in Germany totalling 41.7 MW, bought from EDF Energies Nouvelles. REH now entirely owns Windpark Kesfeld-Heckhuscheid GmbH, which is developing 32.5 MW near Cologne, with the first 27.9 MW stage to be operational by December and the remaining 4.6 MW by July 2006. REH's second acquisition is Kirf GmbH, which has a 9.2 MW project close to Kesfeld also to be operational by July. The projects will cost £33 million, with 80% debt finance and the remaining £6.6 million supplied from REH's cash reserves. Siemens is to provide the 1.3 MW and 2.3 MW turbines for both sites. The firm's Mike Proffitt says: "To enter into agreements with companies of the standing of EDF and Siemens confirms REH as an emerging force in the renewable energy sector.

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