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Green energy supplier Ecotricity has launched its third “ecobond” to raise up to £25 million to fund the construction of six green energy projects in Britain.
Ecobond three will offer Ecotricity customers a return of 6 per cent per annum, or 5.5 per cent for ordinary investors.
The investment will help fund a total of 20.7MW of renewable generation from five wind farms and one solar farm.
Ecotricity issued ecobond one in 2010, and ecobond two in 2011, both of which raised £10 million.
Ecotricity founder Dale Vince 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.”
The first two bonds helped fund a hybrid solar energy parks and four wind projects totalling 20 MW of capacity.
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