Good Energy has completed the sale of its 5MW solar farm at Newton Downs Farm near Newton Ferrers in Devon to CORE Aries Limited in partnership with Yealm Community Energy for £5.83m in cash, giving an estimated profit before tax of circa £0.75 million.
In addition, the board has agreed to terms for the sale of the existing 5MW solar park at Brynwhilach Farm, near Llangyfelach, north of Swansea to CORE Pisces Limited in partnership with Gower Power Co-op CIC.
Good Energy expects the transaction to complete in the first half of 2018.
The consideration will be £5.6m, payable in cash, giving an estimated profit before tax of circa £0.75m.
The transaction includes a potential additional cash payment to Good Energy linked to the value of any development or sale of Brynwhilach Phase II, the amount of which is not yet quantifiable.