Ecotricity has launched a third bond with the aim of raising up to £25m to assist in building six renewable energy projects in the UK.
The company said the projects are already in the first stages of construction.
Ecobond three will offer investors a return of 5.5% per annum – 6.0% per annum for Ecotricity customers.
Ecotricity founder Dale Vince (pictured) 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 that generally charge borrowers more than they pay investors.
“Ecobond three stays true to that philosophy; it’s about democratising the energy sector and the financial sector at the same time – giving people the chance to join us in our work as well as directly accessing the kind of interest rates that banks charge borrowers.”
Ecobond one (2010) and ecobond two (2011) were both oversubscribed and raised £10m in total.
The first two bonds helped finance a hybrid solar energy park and four wind power projects totalling nearly 20MW.
Image: Ecotricity
