Renewable Energy Generation is currently based in Guernsey and owns wind farms in the UK and Canada. However, the company has agreed to sell its Canadian wind farms to global power operator International Power for £69m.
The announcement, made on Thursday, caused REG’s shares to jump 33 per cent, to 57p, on the London Stock Exchange Alternative Investment Market. And on Friday it was revealed that REG plans to relocate to Jersey.
The chairman of REG is local businessman Mike Liston, who said that being based in Jersey would help the company move forward.