Further drawdown from debt facility

RNS Number : 9795M

Good Energy Group PLC

13 May 2015

 

13th May 2015

Good Energy Group PLC

("Good Energy" or "the Company")

Good Energy announces further drawdown from its debt facility

Good Energy, the AIM listed renewable electricity supplier and generator, has today confirmed a further drawdown from its debt facility.

The drawdown amount is for £6.6m and provides long term funding for Good Energy's newest 8MW solar farm in Carloggas, Cornwall, which was energised earlier this year. This latest drawdown brings the total balance to date under the facility to £29.2m.

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 2014.

The Facility is being used to support the further development and construction of Good Energy's solar generation portfolio. The company now has four solar farms, and a further two under construction.

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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  

Michael McNeilly                                                                      012 1423 8900

Camarco (Financial PR Adviser)

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

Good Energy Press Office                                            

Gill Dickinson                                                                            01249 765540

- 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 51,500 renewable electricity customers and 25,000 gas customers. It works with a community of 76,000 small and medium scale renewable electricity generators (All figures as at 31 Dec 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 four solar farms.

 

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