49.9MW solar site sold for ?6.8m

RNS Number : 2792W

Good Energy Group PLC

06 November 2014

 



6 November 2014

Good Energy Group PLC

("Good Energy" or the "Company")

49.9MW solar site sold for £6.8m, at top end of range

Further to the announcement made on 5 August 2014 relating to the sale of its 49.9MW solar site at West Raynham, near Fakenham, Norfolk, Good Energy Group PLC, the AIM quoted renewable electricity supplier and generator, confirms that the post-sale conditions have been met.

The total sale value will be £6.8 million and the net profit on sale received by the Company for the development of the site will now be at the top end of the range previously quoted at between £1.4 million and £3.8 million. This will be reflected in the year end results.

The sale of the solar site, to a member of the Trina Solar group, is part of Good Energy's strategy to develop its portfolio through a combination of selling some sites and building and holding others. The proceeds of the transaction will be used for the on-going development of further sites.

Ends

For further information, please contact:

Good Energy Group PLC

Juliet Davenport, Chief Executive

Denise Cockrem, Chief Financial Officer                               01249 766795

N+1 Singer (Nominated Adviser & Broker)

Andrew Craig, Ben Wright                                                      020 7496 3000

Camarco (Financial PR Adviser)

Geoffrey Pelham-Lane, Billy Clegg, Georgia Mann                020 3757 4980

Good Energy Press Office                                        

Gill Dickinson                                                                          01249 765540

Notes to editors:

- Good Energy is a fast-growing100% renewable electricity supply company, offering value for money and award-winning customer service.

- An AIM-listed PLC, and founder member of the Social Stock Exchange, its mission is to support change in the energy market, address climate change and boost energy security.

- Good Energy matches over the course of a year all the electricity its customers use with power from renewable sources.

- For the last three years, the company has topped the Which? energy company customer satisfaction survey. Good Energy's dual fuel tariff is cheaper on average than the standard tariffs sold by the 'Big 6' before discounts.

- It now has more than 46,000 renewable electricity customers and 20,000 gas customers. It works with a community of 66,000 small and medium scale renewable electricity generators (All figures as at 30 June 2014).

- Good Energy is the owner of Delabole Wind Farm, the UK's first commercial wind farm, and also owns and operates Hampole Wind Farm, near Doncaster. The company also owns and operates two solar farms - Woolbridge in Dorset, and Creathorne Farm in North Cornwall.

- Good Energy aims to deliver 50% of electricity from its own renewable generation assets by 2016.

- It won Company of the Year in the British Renewable Energy Awards 2013 and was named as the best green electricity supplier 2013 by the UK's leading ethical and environmental magazine, Ethical Consumer. Most recently, it won Best Utilities PLC 2014 in the UK Stock Markets Awards.

 

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