Green energy supplier Ecotricity’s latest foray in the UK renewable energy market has led to more than £12m of applications for its fourth corporate mini-bond. The fourth iteration of Ecobonds, launched at the end of October, are held for five-year terms and are automatically extended by a further year. Ecobond four enables customers and the wider public to invest directly in the firm’s work, and boosts the £38m already raised since the initiative was first rolled-out in 2010. Ecotricity founder Dale Vince said: “When we launched ecobond one, it was a pretty radical idea, with a simple ambition: to give people the opportunity to share in the financial benefits of the Green Energy revolution. “We’ve made great progress over the last twelve months – we’re supplying Green Energy to over 190,000 customers, we’ve finished four new wind parks, and we’ve just got approval to build our first Green Gas mill, the first of its kind in Britain.
Edie 29th Nov 2016 read more »
Green energy specialist Ecotricity has confirmed its latest bond issue is poised to go ahead, after receiving applications for over £12m of its so-called ecobonds ahead of tomorrow’s deadline for its corporate mini-bond. ‘Ecobond four’ represents the fourth time the company has offered its customers and other interested parties the chance to take advantage of bond issues from the company, having raised almost £38m through three previous rounds. Ecotricity said ‘ecobond’ four would offer investors a return of 5.0 per cent gross per annum for its customers, or 4.5 per cent gross per annum for all other investors. It follows ‘ecobond one’ in 2010 and ‘ecobond two’ in 2011, which were both oversubscribed, and ‘ecobond three’ last year, which raised just under £18m. Applications for the latest ecobond, which is for an initial five year term, close on tomorrow at 5pm. Ecotricity did not provide precise details on how the new capital will be invested, but the company is currently working on a number of new projects, including ambitious plans to build a series of new green gas plants and expand its network of electric vehicle charge points. It has also upped its investment in rival green energy specialist Good Energy in recent months.
Business Green 29th Nov 2016 read more »
Co-operative Energy will take on all 160,000 customers of collapsed firm GB Energy on their existing price tariff. The firm said it would also honour outstanding credit balances for both current and past customers. Energy regulator Ofgem said if customers wished to change energy provider they would be able to do so without any exit charge. Ofgem said it had chosen Co-operative Energy after “a competitive process to get the best deal possible”. All GB Energy’s staff will be transferred on the same terms to Co-operative Energy.
BBC 29th Nov 2016 read more »
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