The renewable energy supplier Good Energy has launched a ‘Good Energy Bond’ to fund its future investments in wind and solar power.
The firm is aiming to raise £5 million but will sell as much as £15 million of bonds if they prove popular. The money raised will go towards meeting its target of generating 110MW of its own clean energy and supplying 50% of its future customer demands.
Good Energy currently operates a 9.2MW wind farm, has another 8.2MW of wind capacity under construction and has plans in the pipeline for an additional 200MW of solar power and 35 MW of onshore wind.
Investors will receive 7.25% in interest each year with payments made every six months. They will also get an extra 0.25% for each year they are a holder when the bond matures after four years. Investments can be made in multiples of £500.
Juliet Davenport, Founder and CEO of Good Energy said: “We are delighted to launch the Good Energy Bonds, the proceeds of which will be used to strengthen our balance sheet and to help us to accelerate the build-out of our pipeline of UK renewable energy projects. This is increasingly important as we look to meet our commitments to our rapidly expanding customer base.”