RENEWABLE electricity supplier Good Energy Group PLC confirmed on Wednesday that it has agreed to sell a majority stake in its subsidiary which owns a 27.7 megawatt solar farm in Pembrokeshire, to Quercus Assets Selection.
The AIM-quoted company said that it expects to make a profit of around £1.3 million from the sale of a 76% stake in its subsidiary.
It also said that it has the option to sell the remaining 24% of its shareholding.
“This transaction is part of an overall strategy to develop and build out our own renewable energy plant. It supports our long term vision for the company to own and generate 50% of our renewables supply,” said Founder and Chief Executive Officer Juliet Davenport in a statement.
Good Energy’s shares were down 1.5% at 269.90 pence per share Wednesday morning.