New banking facilities for Good Energy Group

Monday, 29th April 2013

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Good Energy Group has secured a new banking facility of £7.5m.

The Chippenham-based company has entered into a new group revolving credit facility of £7.5m with its currently bank, Lloyds TSB.

The new facility has a three year term and combined with its current overdraft it has total facilities of £10.5m in place with the bank.

Garry Peagam, group finance director said: “I am very pleased that we have concluded discussions with Lloyds Bank regarding this new facility.

“Lloyds Bank has recognised that while Good Energy has matured as a profitable business, funding flexibility is required from time to time particularly in respect of some of the long lead items required for our portfolio of Wind and Solar development projects in the United Kingdom. We look forward to continuing to work with them.”

Earlier this month, Good Energy reported revenue of £28.2m and pre-tax profit of £1.4m for the year to 31 December 2012.

 

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