Good Energy solar power site snapped up by Chinese group

August 7, 2014
By

Chippenham-based renewable power pioneer Good Energy has sold a solar site in Norfolk to Chinese photovoltaic firm Trina Solar for up to £6.8m.

The cash sale forms part of the supplier’s strategy of developing a portfolio through a combination of site disposals and building and holding others.

The net profit on sale of the 49.9MW site at West Raynham, near Fakenham, will be between £1.4m and £3.8m depending on when the site is completed and commissioned, Good Energy said.

The proceeds will be used for the on-going development of further sites. 

Good Energy founder and chief executive Juliet Davenport said: “This transaction is part of our overall strategy to develop and build renewable energy sites. It supports our long-term vision for the company to deliver 50% of our renewable electricity requirements from our own renewable generation assets by 2016.

“Our development pipeline is robust and we have already commissioned both new wind and solar sites this year. We look forward to updating shareholders on further developments in due course.”

Good Energy said the outlook for its full-year financial performance remained in line with current market expectations.

 

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