Welsh Wind Farm exclusivity

Renewable Energy Holdings plc (“REH” or “the Company”)

The board of directors of REH (“Board”) is pleased to announce that the Company has secured a period of exclusivity from Mynnydd y Gwynt, the vendors of the proposed wind farm site in Wales.

The period of exclusivity runs until 31 August 2007, or such later date as may be agreed mutually between the parties. During this period, REH and its advisers will have access to data and work performed to date by Mynnydd y Gwynt and its consultants which should enable REH to assess the viability of a wind farm development on the site. REH will place particular emphasis on the wind study and the proposed turbine tower layout.

REH is yet to commence work in earnest on the available data but, pending ready availability of data and satisfactory results from this data review and evaluation process, the Board would expect to be able to proceed to a non-binding memorandum of understanding with respect to this project by 31 August 2007.

The Board believes that the wind farm site at Llangurig, mid-Wales, is capable of providing up to 90MW of generating capacity. The Board would intend to apply part of its loan facility with Standard Chartered Bank to the debt financed element of this development.

Mike Proffitt, Chief Executive Officer of REH, commented: “We are very pleased to have secured this period of exclusivity on this significant project. We believe that this project is capable of superior financial returns due to the location having an exceptional wind-regime and it being part of the UK’s ROC’s (Renewable Obligations Certificates) jurisdiction.”

Howard Evans, Chief Executive Officer of Mynnydd y Gwynt, commented: “We are delighted to be working with REH on this project. Whilst they are now capable of a project of this size, they remain a company we can deal with on a one to one basis.”

Enquiries:

Renewable Energy Holdings plc
Mike Proffitt, Chief Executive
Tel: 01624 641199

Nabarro Wells & Co. Limited
Richard Swindells
Tel: 020 7710 7400

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