U.K. group plans to invest $485M in renewable energy projects

10/17/2013 | Bloomberg

U.K.-based Renewable Energy Generation, which is backed by BlackRock, is planning to spend $485 million on land-based wind, solar and bioenergy projects through 2017. REG is awaiting approval for about 140 megawatts of proposed land-based wind capacity, and is preparing to apply for an additional 100 MW, said CEO Andrew Whalley. The company is hoping to take advantage of plans by the U.K. government to get 15% of the country's energy from clean sources by 2020, up from 9.4% today.

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