A takeover approach has sent shares in the wind farm company Renewable Energy Generation soaring by almost 50%.

Renewable, which operates 11 wind farms in the UK and Canada, declined to name the potential bidder and did not say at what level an offer may be made.

However, the company confirmed that talks were continuing.

Renewable's share price fell from 130p last August to a low of 27.5p in March. By mid-morning on Friday the shares had recovered to 52.75p.