November 29 2014 Latest news:
Friday, August 15, 2014
Part of a former RAF site in Norfolk which is set to become one England’s biggest solar farms has been sold to a Chinese company in a multi-million pound deal.
The EDP has reported how Wiltshire-based Good Energy Group was granted planning permission in December to build a solar farm, to feature nearly 200,000 solar panels on 91 hectares of land, at the former RAF West Raynham site, near Fakenham.
The company said the 49.9MW solar farm will produce enough electricity for the needs of more than 11,000 homes. Now the site has been sold to Chinese photovoltaic manufacturer Trina Solar.
Good Energy say the total sale will be between £3.4million and £6.8million.
The net profit on sale received by the Good Energy will be between £1.4million and £3.8million depending on when the site is completed and commissioned.
The transaction is part of Good Energy’s strategy to develop its portfolio through a combination of selling some sites and building and holding others.
The proceeds will be used for the on-going development of further sites.
Juliet Davenport, founder and chief executive of Good Energy, said: “It supports our long-term vision for the company to deliver 50pc of our renewable electricity requirements from our own renewable generation assets by 2016.
“Our development pipeline is robust and we have already commissioned both new wind and solar sites this year.”
Trina Solar say construction of the solar farm is due to start this year and the site is expected to be connected to the national grid early in 2015.
Jifan Gao, chairman and chief executive of Trina Solar, said: “As a mature and fast growing photovoltaic market, the UK presents opportunities for Trina to continue to invest in the downstream business.
“With a diversified downstream pipeline in China, Europe, Japan and Middle East, we are well positioned to realize our goal of 400MW to 500MW project developments this year.”
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Bosses at automotive group Caterham are locked in crunch talks to determine the fate of its business in Norfolk, the EDP understands.