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Ridgewood Renewable Power sells UK renewable power generation business28/02/2007. Source: AltAssets. 
 Ridgewood Renewable Power, an affiliate of Ridgewood Energy Corporation, has sold its UK landfill methane renewable electric power business to MEIF LG Energy, a European infrastructure fund affiliated with Australian investment bank Macquarie, for $230m.
The total sale represents 64.5 megawatts of renewable power generation at sites in England, Scotland and Wales, plus Ridgewood's London-based development and operating company CLP Envirogas.
Ridgewood Funds initially invested $16m in 1999 with CLP Envirogas, which then owned 14 megawatts of generating capacity. In 2001 Ridgewood Funds acquired the development company, accelerated its development programme, and by 2004 Ridgewood Funds had invested a total of $75m to ultimately bring total generating capacity to 64.5 megawatts, according to a statement.
Ridgewood Renewable Power's chairman Bob Swanson said, 'Ridgewood Renewable Power is proud that we have been able to develop, own and operate a substantial portfolio of renewable power assets in the UK. We have played a significant role in increasing the UK renewable electric power supply, helping the UK meet renewable power targets set by the European Union.'
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