The site, located by Hampole, near Doncaster, UK, has secured approval for the construction of four turbines. Good Energy plans to construct a wind farm with a generation capacity of about 8.2MW.
Expected to generate around 20,000 MWh a year, the proposed wind farm will almost double the amount of electricity generated by the company.
This project marks a crucial step in Good Energy’s target to develop 110MW of new generating capacity over next three years.
Commissioning of the wind farm site is expected by the fourth quarter of this year. This facility will become the second onshore wind farm in the company’s portfolio after the 9.2MW Delabole wind farm in North Cornwall.
Good Energy expects to finish the development phase in-house and reach financial closure with lenders in the first half of 2013.
The acquisition has been funded from the company’s existing cash reserves.
Good Energy CEO and founder Juliet Davenport said that as the company’s customer numbers increase, it considers the development of its generation assets as an important way in which it can keep wholesale costs down and deliver more stable retail prices.
"Acquiring sites like this one, that have already received planning permission, brings a welcome balance to the portfolio so that we can have this site in development in 2013. We also plan to bring online some of the sites we are currently developing from scratch in 2014/2015. With that in mind, we are pleased to have reached this agreement," Davenport added.
