Good Energy to sell renewable asset portfolio

Thu, 25th Nov 2021

Energy services provider Good Energy said it agreed to sell its 47.5MW renewable asset portfolio as part of an ongoing strategic shift to energy and mobility services. Proceeds from the transaction would be used to accelerate and support 'previously identified strategic growth opportunities,' the company said. The is sale is expected to be completed during Q1 2022. The company also said it would make a further investment in Zap-Map, an EV mapping platform. Looking ahead, the company said it expected a certain normalisation to have occurred within the domestic market by the spring of 2022, with 'significantly fewer participants competing in a more balanced manner on product attributes, differentiated service and price.' 'Continued volatility in the energy industry will put short term financial pressure on the business, however, there remains a route to achieve Good Energy's full year expectations.' Story provided by StockMarketWire.com

FTSE 100 Latest
Value7,122.32
Change-6.89