Good Energy launches bond to raise £10 million to expand into storage and electric vehicles

Good Energy has launched its second corporate bond. It wants to raise £10 million (with an over-subscription maximum of £20 million). Its first bond was launched in 2013.

The new bond will have an initial four-year term and investment can be made in multiples of £250. It offers a coupon of 4.75% gross per annum, to be paid semi-annually and Good Energy customers will be paid at maturity the equivalent to 0.25% for each year of being a customer and a bondholder.

Chief executive Juliet Davenport said, In addition to growing our core generation and supply business, we are focusing on developing sustainable energy solutions in areas such as energy storage, electric vehicle networks and green business consultancy to support consumer and business needs in this new environment.

“Good Energy has a long history of customer ownership and we are continuing this with the launch of Good Energy Bonds II, which will be used to develop renewable energy projects and broader corporate initiatives to fuel the future growth of the company.”

Details of the new bond, which closes for applications on 5 June, are available here.

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