Ecotricity launches green bond, seeks up to GBP 25m

UK green energy company Ecotricity on Monday launched its third bond, seeking to raise up to GBP 25 million (USD 38.7m/EUR 34.1m) to support the construction of new projects.

The money to be raised will help fund six green energy projects in the UK that are already in the first stages of construction, the company said. Together the facilities will have the potential to produce enough energy to power more than 10,000 homes.

Ecotricity's ecobond three offers investors an annual return of 5.5%, or 6% if they are customers of the company.

Ecotricity issued ecobond one in 2010 and ecobond two in 2011, which both raised GBP 10 million. The two bonds helped finance a hybrid solar energy park and four wind projects with a total capacity of almost 20 MW.

(GBP 1.0 = USD 1.549/EUR 1.366)

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