Good Energy offloads UK PV duo

Good Energy has sold two solar farms in the UK totalling 10MW to community-owned organisations.

A 5MW project at Newton Downs Farm in Devon has been sold for £5.83m in cash to Core Aries in partnership with Yealm Community Energy. Core Aries is owned by Community Owned Renewable Energy.

An agreement has also been reached to sell a 5MW solar park at Brynwhilach Farm, near Llangyfelach in Wales, to Core Pisces in partnership with Gower Power Co-op CIC for £5.6m in cash. Core Pisces is owned by Core Home Nations, which is funded by Big Society Capital.

Good Energy said that, subject to the satisfaction of conditions, the transaction should complete in the first half of 2018. 

The deal also includes a potential additional cash payment to Good Energy linked to the value of any development or sale of the second phase of Brynwhilach. The value is not yet quantifiable, the company said.

Good Energy will buy the electricity generated by Newton Downs Farm and Brynwhilach.

Good Energy chief executive Juliet Davenport said: “The sale of the Newton Downs Farm and Brynwhilach Farm sites is an important milestone for Good Energy as we shift our focus away from development and towards new growth opportunities. 

“In keeping with our purpose, I am delighted that we have been able to sell both sites to community organisations who will be able to leverage the opportunity of local renewable power generation. We look forward to working with Core in the future.”

Image: Good Energy