Renewable Energy Holdings PLC said it has secured a period of exclusivity from Mynnydd y Gwynt, the vendors of a proposed wind farm site in Llangurig, Wales to assess the viability of a wind farm development on the site.
The company said the period of exclusivity runs up to August 31, until when it will have access to data and work performed to date by Mynnydd y Gwynt.
The company said early data reviews have led it to expect a memorandum of understanding for the project will be signed by the end of August and the site is capable of providing up to 90 MW of generating capacity.
Chief executive Mike Proffitt said he believes the project is capable of superior financial returns due to its location, having an exceptional wind-regime and falling within the UK’s renewable obligations certificates jurisdiction.
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