25.1.2006: Meldung: Renewable Energy Holdings - AGM Statement
and operator of proven and innovative renewable energy technologies, today held
its first Annual General Meeting at 10:00am at the offices of Corporate Synergy Plc,
30 Old Broad Street, London, EC2N 1HT. All resolutions were passed unanimously.
Following the formal proceedings of the AGM, Mike Proffitt, Chief Executive of REH, made the following statement updating shareholders on REH"s progress:
"I am pleased to report on an exciting first year of operation for the Company. Our 27.9MW wind park at Kesfield has been generating revenues for the group since 1 January 2006. Ten of the thirteen turbines are now built, with five of these having been connected to the German national grid with power flowing to RWE, the third party offtake utility. It is anticipated that all of the thirteen turbines will be connected to the grid within the next two weeks, resulting in the first stage of the Kesfield project being fully operational. It is still expected that an additional 4.6MWs will be operational by the end of July 2006.
"As reported in our preliminary results the CETO Device, which is designed to capture wave energy, convert such energy into high pressure seawater leading to onshore generation of electricity from existing technology, has been launched, taken to a sea-bed site, and tested successfully with pressurised water transmitted to shore at pressures of 620 - 850 PSI. Commercial design is now well under way and we remain on plan to develop a commercial CETO design by the end of 2006.
"We are pleased that REH has now established itself in the renewable energy sector and is being contacted by late stage renewable energy project developers regularly. We are currently looking at a number of projects, one of which, located in Hungary, is at an advanced stage, and if successful would double the MW output of the Company once fully operational."
Renewable Energy Holdings plc
Tel: 020 7786 9600