Good Energy to fund production of green power through corporate bond

October 2, 2013

Good Energy, the Chippenham-based renewable electricity supplier, has launched its first corporate bond to finance production of its own green energy.

The Good Energy Bonds offer investors a coupon of 7.25% a year, paid half-yearly. Any Good Energy customer or generator investing in the bonds will also be paid, at maturity, the equivalent to 0.25% for each year they have been a customer.

Good Energy wants to raise at least £5m through the bonds and up to an over-subscription maximum of £15m to invest in increasing its own solar and wind generation capacity.

The proceeds will contribute to the group’s overall objective of developing 110MW of its own renewable energy generation capacity by 2016;  targeting half its customer’s future electricity supplies.

Good Energy said the bonds will also provide investors with a strong social return, as funds raised will be invested directly in UK clean energy infrastructure.

Good Energy has more than 100,000 customers and generators, and has topped the Which? Customer Satisfaction Survey for electricity suppliers for three out of the last four years. It operates a 9.2MW wind farm which provides 16% of its electricity supply, with a further 8.2MW of wind-generated power capacity under construction.  The Group is also now has a wind and solar farm development portfolio in excess of 200MW.

In 2012 the company reported annual revenue of £28.2m with profit before tax of £1.4m.


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