Ecotricity has raised £18.5m from the third issue of its ecobond concept, and will use the funds to build six renewable energy projects in the UK.
The ecobond three offered investors a return of 5.5% per year – or 6.0% per year for Ecotricity customers.
The company said the projects are already in the first stages of construction.
Ecotricity founder Dale Vince (pictured) said: “This is our third and biggest ecobond yet and it’s quite an incredible outcome given the background we’ve been working in these last few months – the relentless attacks on the renewable energy industry by the new Tory government, which can’t have exactly boosted confidence in the sector.
“This is a fantastic show of support, from our customers and the wider public.
“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.”
Image: Ecotricity
