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DJ Good Energy Group PLC Renewal of offshore wind deal with Ørsted

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RNS Number : 4236G

Good Energy Group PLC

17 March 2020

Good Energy Group PLC

Good Energy renews offshore wind deal with Ørsted

Good Energy Group PLC, the 100% renewable electricity supplier and innovative energy services provider, today announces the renewal of an agreement with Ørsted to source offshore wind power for its customers for a further three years.

The agreement between Ørsted and Good Energy continues to secure 12% of the output of the 210MW Westermost Rough Wind Farm, located in the North Sea 8km off the Yorkshire coast and operated from Ørsted's base in Grimsby. This represents enough renewable electricity to power more than 36,200 average homes. Under the agreement Good Energy can also increase the offtake in Years 2 & 3 to 17% and 28% respectively. Westermost Rough is owned by Ørsted, the Green Investment Group (GIG) and a consortium comprising GIG, Macquarie European Infrastructure Fund 5 (MEIF5) and the Universities Superannuation Scheme (USS).

The renewal of terms for a further three years, is the largest in Good Energy history and reflects the success of the ongoing relationship between Good Energy and Ørsted as part of a wider programme to explore opportunities for further cooperation over time.

Juliet Davenport, Founder and CEO of Good Energy said:

"Offshore wind is a huge British success story and we are proud to play a part in that. Building on our partnership with Ørsted allows us to continue to build on our ambition to transition to a 100% renewable energy system, empowering more customers to use clean power and ultimately tackle climate change."

Enquiries:

 
 Good Energy Group PLC                Via Walbrook PR 
  Juliet Davenport, Chief Executive 
  Charles Parry, Investor Relations 
  Luke Bigwood, Communications 
 Investec Bank plc (Nominated         Tel: +44 (0) 20 7597 5970 
  Adviser) 
  Jeremy Ellis 
  Sara Hale 
 Walbrook (Financial PR)              goodenergy@walbrookpr.com 
  Nick Rome                            Tel: +44 (0) 20 7933 8783 
  Tom Cooper 
 

About Good Energy www.goodenergy.co.uk

Good Energy is a generator and supplier of 100% renewable power and an innovator in energy services. It currently owns two wind farms, six solar farms and sources electricity from a community of 1,500 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 support UK households and businesses generate, store and share clean power.

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March 17, 2020 04:36 ET (08:36 GMT)