Good Energy announces second bond issue

Renewable energy supply and generation company Good Energy Group announced the launch of its second corporate bond with a coupon of up to 5% on Wednesday.

The AIM-traded firm said Good Energy Bonds II offered a coupon of 4.75% gross per annum, to be paid semi-annually.

In addition, any Good Energy customer investing in Good Energy Bonds II would be paid at maturity the equivalent to 0.25% for each year of being a customer and a bondholder.

Bonds II had an initial term of four years, the board said, and investments in Bonds II could be made in multiples of £250.

They were available to UK resident individuals aged 18 or over, companies, trusts, charities or other legal entities resident in the UK for corporation tax purposes, with Bonds II being SIPP compliant.

Investors in Good Energy's first corporate bond would be able to roll over some or all of their investment into Bonds II, receiving their existing higher interest rate until 22 November 2017, the maturity date of the Good Energy Bonds I.

“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,” said founder and CEO Juliet Davenport.

“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 its core generation and supply business, Davenport said the company was focussing 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 a 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% renewable and carbon neutral solutions to UK customers.”