Good Energy Group PLC announced that it has completed the acquisition of an onshore wind farm site from RWE Npower Renewables Limited, for a consideration of up to £3.0 million. The site, located by Hampole, near Doncaster, has planning permission for the construction of four turbines. It is Good Energy's intention to construct a wind farm with a generation capacity of approximately 8.2MW.

The proposed wind farm is expected to generate around 20,000 MWh a year, nearly doubling the amount of electricity that Good Energy generates. The project represents an important step forward in its target to develop 110MW of new generating capacity by 2016. Owning and operating its own generation capacity will help the Company to more easily manage its wholesale power costs to deliver more stable retail prices, particularly as customer numbers increase.

Commissioning of the site is expected to take place in fourth quarter of 2013. This wind farm will become the second onshore wind farm in its portfolio alongside the 9.2MW Delabole wind farm in North Cornwall, which was originally the UK's first commercial onshore wind farm. The company will complete the development phase in-house and expects to reach financial close with debt-funders during first half of 2013.

The acquisition has been funded from the Company's existing cash reserves. The site will be eligible for its new Local Tariff, which gives local residents living near wind farms the opportunity to benefit from a 20% discount off its standard electricity tariff. It will also explore with key stakeholders others ways in which the wind farm could benefit the community and local households, as part of its comprehensive approach to community engagement around new renewable energy developments.