REG was established and listed on the London Stock Exchange’s Alternative Investment Market in May 2005.
The Group develops, constructs, finances and operates onshore renewables projects in the UK split across three main sectors; onshore wind, bio-mass and Solar.
Our growing fleet of onshore wind farms is located around the country, supplying much-needed clean power. Investment in our team of experienced industry professionals means we have the in-house resources to identify and develop projects to planning consent in-house, as well as build and manage the wind farms. Our strong financial resources enable us to quickly progress projects from consent to operation.
We generate renewable energy through using a patented bioliquid recovered from used cooking oil, meeting National Grid’s need for reserve power to help keep the UK’s lights on at times of unscheduled demand.
Our solar division was established in 2013 as an ideal complement to our existing renewable energy operations. We have a wealth of experience in identifying land for development and securing planning permission, our in-house construction team has the flexibility and skill to quickly shepherd consented sites into the building phase while our operations division excels at maximising production from our string of sites.
The UK Government remains committed to achieving challenging emissions reduction targets to combat the effects of dangerous climate change.
Onshore wind farms are a proven technology capable of generating safe, clean renewable electricity to help meet these targets at a cost competitive with other forms of power generation.
REG is an extremely active developer of projects and will continue to obtain planning consents and build projects across the country to deliver value for shareholders.
Our ongoing and successful relationship with BlackRock will enable us to recycle capital to fund future growth through the sale of larger projects.
The Short Term Operating Reserve (STOR) market will become increasingly important to the UK as ageing coal-fired power plant is closed under the Large Combustion Plant Directive. REG Bio-Power has demonstrated its reliability in meeting the needs of the STOR programme over several years of operation, using our patented bioliquid to provide renewable electricity to meet unscheduled demand. We will continue to build this business to meet this emerging demand.
We will also continue to explore the potential of complementary technologies, such as solar, alongside our established fields of expertise.
The Renewable Energy Generation group began developing, building, financing and operating clean power projects in 2005.
Early investments included 50MW at Tymien, then Poland’s largest wind farm, which was sold in 2007. Proceeds were reinvested in a portfolio of 25 development projects in the UK, many of which have now been through the planning process, built and are now generating clean electricity.
Our early days also saw the purchase of the Goonhilly Downs Wind Farm on the Lizard in Cornwall, at the time one of the country’s oldest operating commercial wind farms.
In 2006, the purchase of AIM Powergen in Canada allowed REG to grow its renewables prescence, alongside the acquisition of REG Bio-Power, an innovative business aiming to produce power from a fuel derived from used cooking oil.
In 2009, having built and refinanced 80MW of capacity, REG sold its Canadian arm to focus on its UK businesses.
REG’s fleet of operating projects has continued to grow, primarily through winning planning permission and constructing sites using in-house expertise. In 2010 we successfully repowered Goonhilly Downs Wind Farm, replacing the ageing 14 turbines with six new, taller machines and almost quadrupling the annual energy output as a result.
In 2011 REG Bio-Power’s patented bioliquid and innovative engines began servicing a National Grid contract to provide Short Term Operating Reserve, helping keep the lights on at times of unexpected demand on the network.
In 2013 REG formed a strategic partnership with the world’s largest fund manager BlackRock with the sale of two wind farms. We were able to put our years of experience in running the fleet to excellent use, through an asset management agreement which sees REG continue to operate the sites. This alliance was further cemented through the sale of Goonhilly later in the year.
Early in 2014, REG offered the opportunity for the public to invest directly in an individual project for the first time, at our single turbine site at High Down in Cornwall. This was achieved through our partnership with Abundance Generation and we look forward to replicating this on future projects.