Deal Reached for Polish Wind Farm

Renewable Energy Holdings plc (REH) announced that it plans to develop a wind farm site in Kobylany, Poland, under the terms of a conditional sale and purchase agreement with Gamar GHL.

Under the terms of the deal, REH has paid €100,000 [US $135,690] in cash for an option to purchase the project and will a further €2 million [US $2.71 million] in cash upon obtaining all required planning, construction and operating permits for the wind farm site.

The company believes that the site at Kobylany, a mountainous region in southeast Poland, is capable of supporting up to 30 MW of capacity with a net capacity factor of 32%.

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