Good Energy secures financing for new site

Friday, 24th May 2013

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The Chippenham-based company has secured the funding from Investec Bank with the remaining cost of the £16m project to be provided from existing cash resources.

The 8.2MW farm site is located in Hampole near Doncaster and was acquired from RWE Npower Renewables Ltd earlier this year.

The site has planning permission for four turbines and Good Energy has agreed to buy the turbines from Repower Systems SE.

The site is expected to generate enough energy for about 4,800 properties and will nearly double the amount of electricity Good Energy generates from its wholly-owned assets.

Juliet Davenport, chief executive and founder of Good Energy, said: “We’re delighted to be moving forward with the site we’ve acquired at Hampole as part of our plans to deliver affordable green energy to consumers all over the UK.

“These plans guarantee Good Energy access to new sources of renewable power as our electricity supply customer base continues to grow, helping us to deliver competitive prices. This is a step towards ensuring that more people are able to make a difference in tackling climate change by choosing to support renewable energy.”

Good Energy bought the site for £3m in January.

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