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Good Energy launches £10m corporate bond bid

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Juliet Davenport of Good EnergyJuliet Davenport of Good EnergyChippenham-based renewable energy provider Good Energy has launched a corporate bond in a bid to raise £10m.

It is the second bond issued by the company, following an oversubscribed £15m offer in 2013.

Investments in bonds can be made in multiples of £250, and the company is offering investors a return of 4.75 percent, to be paid twice a year.

Good Energy has more than doubled its revenues and profits since 2013, when it launched its first corporate bond, and last year delivered revenue growth of 41 percent to £90.1 million.

Good Energy was founded 18 years ago with the aim of helping homes and businesses to be part of a sustainable solution to climate change.

The firm supplies electricity across the UK from 100 percent renewable natural resources like wind, sunshine and rain.

In 2016, the Company launched its carbon neutral gas offering, and now supplies renewable electricity to over 71,400 homes and businesses and carbon neutral gas to over 44,100 households.

Juliet Davenport, founder and CEO of Good Energy, said: “In the four years since we launched our first corporate bond, Good Energy has grown significantly and successfully adapted to the changing energy and regulatory environment of the UK.

“New technologies and the way we use energy are bringing a modern, decentralised, low carbon structure to the UK energy industry. We are excited about this evolution and the opportunities it creates, and we believe Good Energy is ideally placed to thrive in this new landscape.

“In addition to growing our core generation and supply business, we are focusing on developing sustainable energy solutions in areas such as energy storage, electric vehicle networks and green business consultancy to support consumer and business needs in this new environment.

“Good Energy has a long history of customer ownership and we are continuing this with the launch of Good Energy Bonds II, which will be used to develop renewable energy projects and broader corporate initiatives to fuel the future growth of the Company.

“Our strategy is clear – deliver sustainable, profitable growth by understanding and meeting our customers’ needs. We believe this aligns with not only the interests of our investors and customers but ultimately our purpose of supplying 100 percent renewable and carbon neutral solutions to UK customers.”

Applications for the offer are due to close on June 5.