Good Energy to sell its entire energy generation portfolio

The company said it will invest further in the electric vehicle mapping platform Zap-Map

Big Zero Report 2022

Good Energy has today unveiled plans to sell its 47.5MW renewable asset portfolio.

The company said the move is part of a ‘strategic shift’ to energy and mobility services, driven by further investment in the electric vehicle mapping platform Zap-Map.

The sale is expected to be completed in the first quarter of next year – the portfolio had a net book value of £56.8m as of the 30th of June, Good Energy added.

The proceeds from the transaction are expected to support the company’s current priorities.

Nigel Pocklington, Chief Executive Officer of Good Energy, said: “I’m very pleased to announce the acceleration of our strategy.

“Good Energy has been at the forefront of the UK’s energy transition for over 20 years, stimulating the growth of renewable power generation. Our job is done as a developer and asset owner as we focus on the new frontiers, the electrification of transport and decentralised energy generation.

“Whilst the retail energy market continues to experience some short-term challenges, we remain positive about the future. We will largely be a debt-free company, with a strong balance sheet for growth.”

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