A green energy company is to launch a new £10 million bond scheme to give investors the chance to back UK renewables, after a similar programme was oversubscribed last year.
Ecotricity is launching “ecobond-two”, to fund investment in renewable projects to build 19 new wind turbines for which it has planning permission.
The second investment scheme follows the success of the first round of £10 million of ecobonds it issued last year, which were oversubscribed by 50%, to help fund a solar park and turbines at two factories.
The company said the scheme allowed people to bypass the banks and invest in green energy “without needing to stick anything on their roofs”.
Ecotricity believes the bonds will appeal to people who may have been considering investing in domestic solar power to take advantage of subsidies which pay people for electricity from small scale renewables, but are thinking again in the wake of the Government’s announcement the payments are to be slashed by half.