Good Energy offloads 47.5-MW generation portfolio to Bluefield Solar

January 20 (Renewables Now) – UK renewable energy firm Good Power Group Plc (LON:GOOD) has bought its total 47.5-MW portfolio of renewable era belongings to Bluefield Photo voltaic Earnings Fund Ltd (LON:BSIF), the corporations stated at the moment.

Good Power put the portfolio up on the market in November 2021 as a part of its shift to decentralised power and mobility providers. Bluefield Photo voltaic purchased the belongings after a aggressive course of for as much as GBP 24.5 million (USD 33.4m/EUR 29.4m).

The portfolio consists of six photo voltaic farms with a mixed capability of 30.1 MWp and two wind farms totalling 17.4 MWp, primarily situated in South West England.

The gross sales worth includes an preliminary fairness consideration of GBP 16.4 million and deferred funds of as much as GBP 8.1 million, topic to due diligence milestones over the subsequent 4 to 6 weeks. The portfolio additionally has GBP 39.1 million of long-term debt.

Good Power stated the deal is at a premium to the portfolio’s internet e book worth of GBP 17.7 million as of June 30, 2021. The photo voltaic and wind parks provide some 15% of its prospects’ electrical energy, with these provides to proceed beneath energy buy agreements (PPAs).

Good Power will make investments the proceeds into its technique, which incorporates participation within the ongoing funding spherical by its subsidiary electrical car (EV) mapping service Zap-Map.

The customer famous that the portfolio can have about 65% regulated revenues within the 2021-2034 interval. 5 of the photo voltaic crops are accredited beneath the feed-in-tariff (FiT) regime and one beneath the Renewable Obligation Certificates (ROC) regime with a tariff of 1.4 ROCs. The wind farms are accredited beneath the ROC regime at 1 ROC and 0.9 ROCs respectively.

“Not solely does this acquisition mark our second buy of operational wind belongings throughout the area of six months, but it surely additionally provides a really engaging portfolio of photo voltaic belongings with a excessive proportion of regulated revenues to the Firm’s vital present portfolio,” stated Bluefield Photo voltaic chairman John Rennocks.

The acquisition introduced the fund’s whole put in capability to 673 MWp.

(GBP 1 = USD 1.362/EUR 1.201)


Leave a Reply