Renewable electricity supplier boasts substantial growth figures for 2012
British renewable energy supplier Good Energy has announced a 31% increase in its revenue compared with 2011 mainly due to a 13% rise in its electricity customer base.
In its 2012 financial report released yesterday, Good Energy also increased its gross profit by 10% to £9.6m last year compared with its 2011 figure of £8.7m.
The company has 35MW of onshore wind and up to 200MW of solar energy installations in the development pipeline.
It claims plans to target a portfolio of 110MW of wind, solar and possibly small hydro generation assets by 2016 are on track.
Good Energy also wants to deliver 50% of electricity from its own generation assets and Delabole, its existing 9.2 MW wind farm in north Cornwall, generated more than 24,000 MWh of electricity in 2012, amounting to around 16% of the renewable electricity requirement for the company’s supply base.
In January 2013 Good Energy agreed the purchase of an 8.2 MW site with planning in Yorkshire and expects development of this site to start in 2013. This will produce around 20,000 MWh of electricity a year, almost doubling the amount of power that it will be able to purchase from its own sites.
Good Energy chairman John Maltby insisted that renewable energy remained central to the Government’s plans for the UK energy market, with wind energy alone now regularly providing over 5% of UK electricity demand.
“Whilst media and political commentary has increased, fundamental opportunities remain. Key policy decisions on financial support levels for renewable energy both now and in the future remain broadly favourable, and the UK Government retains a strong track record on maintaining support levels for existing sites,” he said.
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