REG in wind deal with BlackRock

An REG-developed wind farm

An REG-developed wind farm

UK developer Renewable Energy Generation (REG) has sold two wind farms to investment group BlackRock and says further such deals may follow.

A BlackRock-managed fund has bought from REG two recently-operational wind farms in the north of England, the 10MW Sancton Hill and 6MW South Sharpley, in a deal worth £32.1m ($50.5m).

REG will manage the two plants, plus other unspecified wind farms owned by BlackRock.

The two also signed a co-operation deal that could see BlackRock acquire further wind farms developed by REG.

The developer will use some of the proceeds to fund the building of two wind farms in Cornwall, southwest England, totalling 21MW.

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