Good Energy Group PLC Generation portfolio deferred consideration update (9140Q)
01 July 2022 - 4:00PM
UK Regulatory
TIDMGOOD
RNS Number : 9140Q
Good Energy Group PLC
01 July 2022
Good Energy Group PLC
("Good Energy" or the "Company")
Final update on generation portfolio deferred consideration
Good Energy Group PLC (AIM: GOOD), the 100% renewable
electricity supplier and innovative energy services provider, today
announces the final deferred consideration received in relation to
the disposal of its 47.5MW renewable generation asset portfolio
("Portfolio") as part of an ongoing strategic shift to energy and
mobility services.
On 20 January 2022 the Company announced the disposal of its
47.5MW generation portfolio to Bluefield Solar Income Fund. Total
consideration of up to GBP24.5m was comprised of initial and
deferred payments. The initial consideration of GBP16.4m, less
distributions since the lockbox date of GBP0.7m, resulted in
GBP15.7m being paid to the Company on completion. At that time,
deferred consideration of up to GBP8.1m remained to be paid, with
the final amount to be calculated with reference to an agreed
financial model and based on the actual operational, technical,
real estate and financial position of the Portfolio.
On 25 February 2022 the Company announced that the final amount
of deferred consideration amount had been agreed and that GBP4.3m
deferred consideration was paid on that date with a further GBP0.5m
to be paid on 30 June 2022.
The company now confirms that the final deferred consideration
payment of GBP0.5m has been received. As a result, the final total
consideration received in respect of the Portfolio was
GBP21.2m.
Enquiries
Good Energy Group PLC
Nigel Pocklington, Chief Executive
Charlie Parry, Director of Corporate Strategy
& Investor Relations
Luke Bigwood, Director of External Affairs Email: press@goodenergy.co.uk
SEC Newgate UK Email: GoodEnergy@secnewgate.co.uk
Elisabeth Cowell / Molly Gretton Tel: +44 (0)7900 248213
Investec Bank plc (Nominated Adviser
and Joint Broker)
Tel: +44 (0) 20 7597
Sara Hale / Jeremy Ellis 5970
Canaccord Genuity Limited (Joint Broker) Tel: +44 (0) 20 7523
Henry Fitzgerald - O'Connor 4617
About Good Energy www.goodenergy.co.uk
Good Energy is a supplier of 100% renewable power and an
innovator in energy services. It has long term power purchase
agreements with a community of 1,900 independent UK generators.
Since it was founded 20 years ago, the Company has been at the
forefront of the charge towards a cleaner, distributed energy
system. Its mission is to power a cleaner, greener world and make
it simple to generate, share, store, use and travel by clean power.
Its ambition is to support one million homes and businesses to cut
carbon from their energy and transport used by 2025.
Good Energy is recognised as a leader in this market, through
our green kite accreditation with the London Stock Exchange and as
the only energy supplier with Gold Standard Uswitch Green Tariff
Accreditation for all tariffs.
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END
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