Company thinks answer is blowing in the wind

Tuesday 25th September 2007, 12:00AM BST.

A UK company with Jersey links has announced that it is on track to capture a growing demand for renewable energy through its construction of wind farms.

Renewable Energy Generation (REG), which is chaired by the chief executive of the Jersey Electricity Company, Mike Liston, has released its preliminary results for the year ending 30 June.

The company, which has three directors based in Jersey, announced a pre-tax loss of £333,848, but chairman Mr Liston said that this was to be expected for a company only two years’ old.

‘We have been investing in getting planning consent for wind projects and then constructing them in the UK, Canada, and Poland,’ he said.

‘It is quite surprising that the loss is as small as it is.

‘We have a very strong balance sheet with £20.

m of cash in the bank and no borrowings.

It is a very healthy position to be in with no debt on the balance sheet.

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