Renewable Energy Generation Wins Netley Landfill Solar PV Project

(RTTNews) - Renewable Energy Generation Ltd (WIND.L) Monday announced that it has secured a contract for its 12MWp Netley Landfill ground-mounted solar PV project in the first allocation round of the UK Contracts for Difference or CfD regime.

The project is being developed in partnership with French resource management firm Veolia Environnement SA (VE), on its restored landfill site at Netley in Hampshire.

The company noted that CfD provides renewable energy generators with a 15 year index-linked price for supplying power to the grid. This replaces the existing Renewables Obligation mechanism which will end in March 2015 for solar and March 2017 for other renewable technologies.

The Netley Landfill Solar project, in Hampshire, was one of three solar schemes to successfully secure a CfD for delivery in 2016-17 at a strike price of 79.23 pounds per MWh.

Renewable Energy expects the project to be completed by the end of 2016.

In London, Renewable Energy Generation shares were trading 0.59 percent lower at 61.51 pence.