Commissioning of new solar site

RNS Number : 1588G

Good Energy Group PLC

02 March 2015

 

2 March 2015

Good Energy Group PLC

("Good Energy" or "the Company")

Good Energy commissions new solar site and announces further drawdown from its debt facility

Good Energy, the AIM listed renewable electricity supplier and generator, is pleased to announce the commissioning of a new 5MW solar farm in Rook Wood, Wiltshire.

The Rook Wood site will generate enough electricity to power around 1,100 homes. This brings the number of solar farms which have been developed and operated by Good Energy to three. A further two are already under construction.

The Company has also confirmed a further drawdown from its debt facility. Good Energy entered into a non-recourse debt financing facility of up to £45 million with GCP Infrastructure Investments Limited, a London listed infrastructure debt fund (the "Facility") in December. The Facility supports the further development and construction of Good Energy's solar generation portfolio, bringing the total installed capacity today of wind and solar to 29MW.

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

"This latest addition to our generation portfolio will make an important contribution to the renewable energy targets for Wiltshire, while helping Good Energy meet the demands of its growing numbers of customers. It also demonstrates the value of solar power as part of our renewable electricity generation portfolio."

[ends]

For further information, please contact:

Good Energy Group PLC	01249 766795
Juliet Davenport, Chief Executive
Denise Cockrem, Chief Financial Officer
Arden Partners plc (Nomad & Broker)	012 1423 8900
Steve Douglas
Michael McNeilly
Camarco (Financial PR Adviser)	020 3757 4980
Geoffrey Pelham-Lane, Billy Clegg, Georgia Mann
Good Energy Press Office	01249 765540
Gill Dickinson

Notes to editors

- Good Energy is a fast-growing 100% 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.

- 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 four years 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 50,500 renewable electricity customers and 24,000 gas customers. It works with a community of 73,000 small and medium scale renewable electricity generators (All figures as at 30 Nov 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, in addition to the site announced today.

- 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.

 

END

 

 

MSCPGUUPPUPAGMM