Sale of a 4.65MW solar site in Kent

RNS Number : 0564Z

Good Energy Group PLC

24 May 2016

 

24th May 2016

Good Energy Group PLC

("Good Energy" or the "Company")

Good Energy Group PLC announces sale of a 4.65MW solar site in Kent

Good Energy Group PLC ("Good Energy" or "the Group"), the AIM quoted renewable electricity supplier and generator announces that, following a competitive tender process and evaluation by the Board, it has completed the sale of a 4.65MW solar site at Wrotham, near Maidstone, Kent, to a member of the Trina Solar group. The net profit on sale received by the Company for the development of the site will be between £430,000 - £480,000, in line with our 2016 profit expectations.

Juliet Davenport, OBE, Founder and CEO of Good Energy, said:

"The site has been developed to enhance the ecology of the land and exemplify the long term biodiversity benefits of solar parks. The site is well screened between two motorways and part of the land is a disused landfill zone.

"The proceeds of the transaction will be used for the ongoing development of our generation portfolio. Good Energy continued to invest in and develop generation assets in 2015, successfully gaining consent for three sites and building four solar farms, increasing generation capacity of the Group to 48MW.

"The outlook for the full year financial performance remains in line with current market expectations for 2016. We look forward to updating shareholders on further developments in due course.

"This is our third project with Trina and we look forward to seeing the operational site and the consequential benefits for the community and local wildlife."

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For further information, please contact:

Good Energy Group PLC Juliet Davenport, Chief Executive Denise Cockrem, Chief Financial Officer	01249 766795
Arden Partners plc (Nomad & Broker) Steve Douglas, Patrick Caulfield	01214 238900
Camarco (Financial PR Adviser) Geoffrey Pelham-Lane, Georgia Mann	0203 757 4980
Good Energy Press Office                 Luke Bigwood	01249 478 358

- Good Energy is a fast-growing 100% renewable electricity supply and generation 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. 

- The company has consistently performed well in the annual Which? energy company customer satisfaction survey, winning first or second place in each of the last five years. 

- It has more than 68,000 renewable electricity customers and 38,800 gas customers. It works with a community of 112,600 small and medium scale renewable electricity generators (all figures as at 31 December 2015).

- Good Energy is the owner of Delabole Wind Farm, the UK's first commercial wind farm, and owns and operates Hampole Wind Farm, near Doncaster. The company also owns and operates seven solar farms.

- Good Energy has won a number of awards including Business Green Company of the Year 2015, British Renewable Energy Association Leadership Award 2015 and, for the second year running, Small Cap Awards - Social Impact Company of the Year.

 

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