It is anticipated that two 2MW turbines will be installed on the site, with expected combined output of approximately 12GWh per annum. The turbines are being ordered and the project is expected to become operational at the end of 2010.
REG is experiencing a favorable environment for turbine procurement and has placed an order with Acciona of Spain for three 1.5MW turbines for its fully consented site at Loscar near Rotherham. Once operational, this site is expected to produce approximately 11GWh of output per annum. Project completion is expected in autumn 2010.
A turbine order for the company's consented site at Goonhilly Downs is currently being negotiated and is expected to be closed within the next few weeks. Delivery is expected in late summer 2010 with operation scheduled to commence in autumn 2010. When complete this site is forecast to produce approximately 29GWh of output per annum.
It is anticipated that these three developments will almost double REG's operational output from wind in the UK. In addition, REG has a number of other projects nearing planning determination and is optimistic that further significant capacity will be consented this calendar year.
The company aims to invest around GBP100m of debt and equity into UK wind projects over the next three years and is in discussion with a number of banks regarding a long term structured financing facility.
REG bio-power generated 2.78GWh of output during the first half of the year from its two operational plants at Hockwold and Bentwaters. Additionally REG Bio-Power's announced project with port of Dover authority will commence generation in first quarter 2010.
In order to provide sufficient fuel, processed in accordance with its end of waste accreditation from the environment agency, REG bio-power will start construction of a new oil processing facility at Hockwold in Norfolk. This will allow REG bio-power to process around 15,000 tons of LF 100 per annum, enough to operate around 15MW of renewable energy facilities. The cost of this project will be approximately GBP0.8m and will be funded from internal resources.
Andrew Whalley, CEO of REG, said: "We are delighted with the acquisition of High Haswell. The site is highly energetic and will provide a sound contribution to local renewable energy targets in county Durham.
"The market for turbine procurement is favourable at present and we are delighted to be able to work with the Spanish turbine manufacturer Acciona on our project at Loscar. We are in the process of securing machines for High Haswell together with the repowering of our existing site at Goonhilly Downs in Cornwall. These sites, together with Loscar, will thus become operational during 2010."