Good Energy sells renewables portfolio to fund transition to energy services
Good Energy has sold its wind and solar farms to Bluefield Solar Income Fund to focus on Zap-Map a smart meter platform for small scale generators.
Good Energy has sold its 47.5MW renewable asset portfolio as part of a shift towards mobility and energy services, including increased investment into Zap-Map.
The renewable portfolio was refinanced and restructured in April 2021 as part of a balance sheet simplification exercise, and was held on the balance sheet at a net book value of £56.8 million as of 30 June 2021.
“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,” Nigel Pocklington, chief executive officer of Good Energy, said.
Good Energy is now intending to participate in electric vehicle (EV) chargepoint mapping firm Zap-Map’s current funding round, having already taken a 50.1% stake in the company.