Good Energy Group PLC, the renewable electricity supplier and generator, has completed the sale of a 4.65MW solar site at Wrotham, near Maidstone, Kent, to a member of the Trina Solar group.
The net profit on sale received by the company for the development of the site will be between £430,000 - £480,000 (US$480,000- US$535,000).
The 25-acre site at Wrotham Heath, in Kent, UK, is situated between two motorways, the M26 and the M20. Currently the land is used predominantly for grazing, which would continue once the solar farm was installed.
Juliet Davenport, OBE, Founder and CEO of Good Energy, said:
"The site has been developed to enhance the ecology of the land and exemplify the long term biodiversity benefits of solar parks. The site is well screened between two motorways and part of the land is a disused landfill zone.
"The proceeds of the transaction will be used for the ongoing development of our generation portfolio. Good Energy continued to invest in and develop generation assets in 2015, successfully gaining consent for three sites and building four solar farms, increasing generation capacity of the Group to 48MW.
"The outlook for the full year financial performance remains in line with current market expectations for 2016. We look forward to updating shareholders on further developments in due course.
"This is our third project with Trina and we look forward to seeing the operational site and the consequential benefits for the community and local wildlife."