The majority of the 2,000 individual applications were from Good Energy customers, and the independent supplier reported a significant oversubscription in the offer.
Good Energy founder and chief executive Juliet Davenport said: “I’m delighted by the demand we received for this share offer. It’s a strong signal that renewable energy remains an attractive investment.
“We’ve gone back to our roots by inviting customers, bondholders and shareholders the opportunity to invest and once again there has been a real appetite from them to get involved.”
The Wiltshire-based firm, which supplies 100 per cent renewable electricity and green gas will use the money raised to invest in its operational platform, generation portfolio and to further strengthen its financial position.
The company has 220,000 customers and aims to grow to one million by 2020.
The firm’s first windfarm in Cornwall was bought through customer shares in 2002, and its first bond offer to customers in 2013 reached its £15 million target three weeks ahead of schedule.