Renewable Energy Holdings "buy"

12/10/07 - Panmure Gordon & Co

LONDON, December 10 (newratings.com) - Analyst Mark Davis of Panmure Gordon maintains his "buy" rating on Renewable Energy Holdings Plc (RTU). The target price is set to 80p.

In a research note published this morning, the analyst mentions that the company has agreed to purchase all the permits and plans for the Kobylany Wind Farm project in Poland for €2.04 million plus VAT. The construction of the turbines is expected to begin in late spring next year, allowing the site to be commissioned by the end of the year, the analyst says. Renewable Energy Holdings would be funding the construction of the wind farm via the Standard Chartered credit facility, Panmure Gordon adds.