Renewable energy investor Good Energy has raised £11.8 million to upgrade its Delabole wind farm in North Cornwall.
Renewable energy investor Good Energy has raised £11.8 million to upgrade its Delabole wind farm in North Cornwall.
The Chippenham-based company has arranged £9.6 million of debt finance from the Co-Operative Bank and is providing £2.2 million from its own resources. The money will go to re-power Delabole by replacing its 10 existing wind turbines with four ‘modern and more powerful’ Enercon turbines, which the PLUS-quoted company hopes will achieve a combined capacity of 9.2 megawatts and increase the wind farm’s output by some two and a half times, ‘enough to supply more than 7,800 homes’.
Increasing Delabole’s capacity is the first wind farm development backed by Good Energy, steered by chief executive Juliet Davenport. The company says its energy generation team is ‘actively progressing with a pipeline of other opportunities’.
Good Energy, which made £509,022 pre-tax in 2008 on £17.67 million turnover, made an increased £273,000 pre-tax in the first half of last year on turnover up 30 per cent to £9.5 million
