Renewable energy bosses banking on a fair wind

RENEWABLE Energy Generation, which operates ten wind farms in the UK, recently said it plans to significantly increase its capacity.

The company has a number of planning applications for new sites in the pipeline. It said the last six months had seen a significant step up in the pace of projects entering the planning system and also in the construction of new projects with planning approval.

The company believes that as one of the relatively few remaining developers in the 5-20 megawatt sector of the UK onshore wind market it is well-placed to benefit from increasing demand for green energy.

Shares in the company are currently well down on their year high of almost 60p and last week two directors went into the market to increase their stakes in the company. Chief executive Andrew Whalley bought 80,000 shares at 48p each and now holds 342,017 shares. Finance director David Crockford bought 20,000 shares at 46.25p each and now holds 33,185 shares.

n David Barton, a non-executive director at technology group Feedback, has bought 200,000 shares at 1.05p and now holds 16.04 million.

n John Allwood, a non-executive director at broadband company TalkTalk, has bought 10,000 shares at 134.8p.

In a separate purchase Allwood also bought 3,500 shares at 311p in retail group Carphone Warehouse where he also serves as a non-executive director.

n Kevin Lyon, non-executive chairman at Valiant Petroleum, has upped his holding with the purchase of 10,000 shares at 408.5p. He now holds 60,000 shares. His purchase came after Valiant said an exploration well in the Norwegian Barents Sea had failed to find oil.

n Keith Daley, chairman of electronics group Elektron, has increased his already substantial holding with the purchase of 300,000 shares at 21.25p each. He now owns 8.54 million shares.

n John Whiteley, chief financial officer of property investment group CLS Holdings, has bought 201 shares at 555p and now holds 10,000 shares

n Two directors at gas producer Igas Energy have bought their first stakes in the company. Chief executive Steve Bowler bought 40,000 shares at 51.25p each and chief operating officer John Blaymires bought 20,000 shares at the same price.

n Several directors at banking group Lloyds last week upped their stakes in the company following share price falls. Chairman Win Bischoff bought 100,000 shares, current interim CEO Tim Tookey bought 112,000 shares and Tookey’s planned successor, David Roberts, bought 110,869 shares. The shares ranged in price between 22.42p and 22.83p.