Ecotricity gets GBP 18.5m from third ecobond

UK green energy supplier Ecotricity said it has raised GBP 18.5 million (USD 27.9m/EUR 26.3m) from its third ecobond issue to invest in building six renewable energy projects.

The projects are already in the early stages of construction and are expected to produce enough energy to power more than 10,000 homes.

Investors will see a return of 5.5% per year, or 6% for customers of the company.

"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," Dale Vince, Ecotricity founder told media reporters.

The company launched the bond in October and said it was looking to raise up to GBP 25 million.

(GBP 1.0 = USD 1.506/EUR 1.420)

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