Sale of 27.7MW solar farm in Pembrokeshire

RNS Number : 6232U

Good Energy Group PLC

03 December 2013

 



December 4^th 2013  

Good Energy Group plc announces the sale of 27.7MW solar farm in Pembrokeshire

Good Energy Group plc ("Good Energy" or "the Group"), the AIM-quoted renewable electricity supplier, announces that, following evaluation by the Board, terms have been agreed to sell a 76% shareholding in the Group subsidiary which holds the consented 27.7MW solar site in Pembrokeshire to Quercus Assets Selection.

Estimated profit from the sale of the shareholding will be approximately £1.3 million. Options are in place over the remaining 24% of the shareholding which may give rise to a higher profit figure depending on when the site is completed and commissioned.

The transaction is part of Good Energy's strategy to develop its portfolio through a combination of selling some sites and building and holding others.

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

"This transaction is part of an overall strategy to develop and build out our own renewable energy plant. It supports our long term vision for the company to own and generate 50% of our renewables supply."

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Enquiries:

Good Energy Group plc Juliet Davenport, Chief Executive Garry Peagam, Group Finance Director	Tel. [phone]
N+1 Singer (Nominated Adviser and Broker) Andrew Craig / Ben Wright	Tel: [phone]

Notes to editors

·     Good Energy is a licensed electricity supplier. It ensures that all of its customers' demand is 100% matched with electricity from renewable sources over the course of 12 months, backed by Renewable Energy Guarantee of Origin certificates (REGOs).  To compare the fuel mix of other suppliers please visit: www.electricityinfo.org/suppliers.php 

·     Good Energy Group plc is listed on the AIM market of the London Stock Exchange. For more information please visit: www.goodenergygroup.co.uk 

·     Good Energy's first corporate bond, which it promoted to its customer base, reached the £15 million maximum subscription on 24th October 2013, three weeks ahead of schedule www.goodenergy.co.uk/bond

·     Good Energy has over 35,000 renewable electricity customers. In 2008, Good Energy added a gas product to its range. It now has more than 12,000 gas customers.

·     Good Energy works with a community of over 55,000 small and medium scale renewable electricity generators.

·     Good Energy is the owner of Delabole Wind Farm, the UK's first commercial wind farm. It has targeted the development of 110MW of capacity of new renewable electricity generation assets by 2016.

·     Good Energy is a founder member of the Social Stock Exchange.

·     Good Energy has recently won a number of awards and accolades, including:

o  Good Energy came top in the latest Which? Customer Satisfaction Survey for energy suppliers, and has won first place in three of the last four years.

o  Good Energy won the Company of the Year Award in the British Renewable Energy Awards 2013.

o  In 2013, Good Energy was named as the best green electricity supplier by the UK's leading ethical and environmental magazine, Ethical Consumer.

 

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