A green energy company has launched a bond in a bid to raise £25 million to build more green energy projects in Britain.
Ecotricity’s ‘ecobond three’ will offer a return of 5.5% a year to investors and 6% to its customers.
The money will help finance six new green energy projects – five wind farms and a solar farm – which could generate enough electricity to power more than 10,000 homes.
Ecotricity founder Dale Vince, said: “When we launched the first ecobond five years ago, it was a fairly radical idea – we wanted to give people the chance to share in the financial benefits of the green energy revolution as well as cutting out the banks which generally charge borrowers more than they pay investors.”
Funds from ecobonds one and two helped finance the building of a hybrid solar energy park and four wind power projects totalling nearly 20MW in capacity.