Renewable energy provider, Good Energy has announced that it has agreed to sell its 49.9MW solar site in Norfolk to Chinese module manufacturer, Trina Solar.
Good Energy state that the solar farm site in West Raynham will be sold for between £3.4-6.8 million, resulting in a net profit of between £1.4-3.8 million. The final figures will depend on when the site is complete and commissioned.
Commenting on the sale of the project, Juliet Davenport, CEO of Good Energy 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 has been a vocal opponent of governmental proposals to remove renewable obligation support for large-scale solar farms as of April 2015 which is currently subject to a legal challenge.
In a press briefing Davenport told Solar Power Portal that 60 to 70% of Good Energy’s solar portfolio had been put at risk by the government’s shock announcement, saying that the solar industry was being treated like “guinea pigs” after being forced to take up the contracts for difference (CfD) scheme a year ahead of schedule.
Good Energy states that funds generated by the sale of the 49.9MW site will be used for the ongoing development of further renewable projects.