Two new 5MW solar sites added

RNS Number : 5706R

Good Energy Group PLC

30 June 2015

 

30 June 2015

Good Energy Group PLC

("Good Energy" or "the Company")

Good Energy adds two new 5MW solar sites to its portfolio

and announces further drawdown from its debt facility 

Good Energy, the AIM listed renewable electricity supplier and generator, is pleased to announce that, consistent with its growth strategy, it has commissioned two new 5MW solar sites, bringing the total number of solar farms it has built and operates to six.

The new sites are located at Lower End in Wiltshire, and Crossroads in Dorset. Combined, the six sites generate 30MW, enough electricity to power [7150] homes.

The Company has also confirmed a further drawdown from its debt facility. The drawdown amount is £4.1m and provides long term funding for the Lower End solar farm. Following this drawdown, the total balance to date under the facility is £33.3m.

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 has a further site due to be constructed later this year.

Juliet Davenport OBE, Chief Executive and founder of Good Energy, said:

"The commissioning of these two new solar farms demonstrates our continued commitment to owning and operating a growing portfolio of renewable generation sites.

"The new solar farms will make an important contribution towards their county's renewable energy targets, and will also deliver benefits to local people local in the form of community funds and bespoke biodiversity plans."

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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 now owns and operates six solar farms.

 

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