Good Energy launches corporate bond

Good Energy has launched a corporate bond as it attempts to increase cash to expand its renewable generation capacity.

The company is offering the 7.25 per cent “Good Energy bonds” for an initial period of four years, while customers or generators investing in the bonds will be paid at maturity the equivalent of 0.25 per cent for each year of being a customer of bondholder.

Good Energy is looking to raise £5 million through the bonds, with an upper limit of £15 million, and investments can be made in £500 multiples.

The money will be used to invest in in increasing the company’s wind and solar generating capacity and contributing towards Good Energy’s objective of developing 110MW of renewable generation by 2016.

Juliet Davenport, founder and chief executive of Good Energy said: “We are delighted to launch the Good Energy Bonds, the proceeds of which will be used to strengthen our balance sheet and to help us to accelerate the build-out of our pipeline of UK renewable energy projects.

“This is increasingly important as we look to meet our commitments to our rapidly expanding customer base.”