The company has acquired a fully consented site at High Haswell in County Durham for £0.8m cash.

It expects to install two 2MW turbines on the site with expected output of 12GWh p.a. with plans to become operational towards the end of 2010.

REG said it aims to invest around £100m of debt and equity into UK wind projects over the next three years and is in discussion with a number of banks for a long-term financing facility.

Output from REG's operational wind sites in the UK was slightly ahead of management expectations in the first half of the current year due to higher wind levels.

Interim results will be published on March 18.

REG says it is currently experiencing a favourable environment for turbine procurement and has placed an order with Acciona of Spain for three 1.5MW turbines for its site at Loscar, near Rotherham. Project completion is expected this autumn.

A turbine order for the Goonhilly Downs site is expected to be closed within the next few weeks. Delivery is expected in late summer with operation scheduled to begin in the autumn.

The company expects its three developments will almost double operational output from wind in the UK. It has a number of other projects nearing planning determination and is optimistic that further significant capacity will be consented this year.

REG Bio-Power is to start construction of an oil-processing facility at Hockwold in Norfolk. The £0.8m cost will be funded from internal resources.

Story provided by Business Financial Newswire