Renewable electricity firm Good Energy has arranged an extra £8.5m in funding to continue its expansion.
The Chippenham-based firm, which is based on the London Stock Exchange’s AIM market, will use the additional funding to develop more solar farms as well as growing its customer base. 
It has already drawn down £4m of the increased facility to provide long-term funding for its fifth solar farm – the 5MW scheme at Crossroads Plantation in Dorset, which since June has been producing enough power for 1,260 homes.
Good Energy now has six operational solar farms, with a further site due to be built later this year.
The new debt financing facility extends the agreement secured with London-listed infrastructure debt fund GCP Infrastructure Investments last December.
Good Energy will continue to draw down funds to develop and build each project. The drawdown for Crossroads Plantation brings the total balance to date under the facility to £37.3m.
Good Energy retains 100% of the equity in each of the sites. It now has six operational solar farms, with a further site due to be built later this year.
Pictured above: Good Energy's Creathorne solar farm
