Good Energy Group PLC Good Energy renews offshore deal with sted (1722K)
April 06 2018 - 10:12AM
UK Regulatory
TIDMGOOD
RNS Number : 1722K
Good Energy Group PLC
06 April 2018
Good Energy Group PLC
("Good Energy" or the "Company")
Good Energy renews unique offshore wind deal with Ørsted for a
further two years
Good Energy Group PLC, an established clean energy company,
today announces the renewal of an agreement with Ørsted (formerly
DONG Energy) to source offshore wind power for its customers for a
further two years.
The agreement between Ørsted and Good Energy Limited 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 26,000 average homes.
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 two years 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 Chief Executive Officer of Good
Energy, said:
'This unique agreement allows us to continue to deliver offshore
wind power to our customers, as a core component of our clean
energy fuel mix, complementing our onshore wind, solar and biomass,
and reflecting our ongoing commitment to providing 100% renewable
electricity.
"The site's generation output has performed ahead of
expectations over the past 12 months, highlighting the innovations
deployed in operation of the windfarm, which is reducing the cost
of wind power generation.
"This agreement is a great fit for Good Energy and a good
outcome for both our domestic and business customers, and we are
pleased to be part of the continued success story of British
offshore wind, playing our part by buying power from a pioneering
green investment project in Westermost Rough.
"Ørsted is a world leader in offshore wind power generation and
shares our passion for innovation in renewable energy. We look
forward to continue working together."
Søren Scherfig, Senior Vice President and Head of Markets at
Ørsted said:
"'We continue to enjoy working with Good Energy. Together, we
share ambitions to create a green and climate friendly energy
system.
"Our partnership also represents a fine opportunity for Ørsted
to demonstrate that we are committed to the UK. By supplying
sustainable, reliable and affordable energy we support the energy
transformation within the UK."
Ends
Enquiries:
Good Energy Group PLC
Juliet Davenport, Chief Executive Tel: +44 (0)1249 766795
Charles Parry, Investor Relations
Investec Bank plc (Nominated advisor)
Jeremy Ellis Tel: +44 (0) 20 7597 4000
George Price
Smithfield (Financial PR)
Alex Simmons Tel: +44 (0) 20 3047 2543
Brett Jacobs
Ørsted Media Relations
Morten Kidal Tel: +45 9955 9583
This information is provided by RNS
The company news service from the London Stock Exchange
END
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