The ‘green energy’ group Ecotricity (
www.ecotricity.co.uk) has raised £18.5 million of funding through an ‘eco-bond’ to build six renewable-energy projects that will generate enough energy to power more than 10,000 homes.
Dale Vince, the owner of the Stroud-based business, said the investment was achieved “in the face of relentless attacks on the renewable-energy industry by the Government.
“This is our third and biggest eco-bond yet, and it is quite an incredible outcome given the background we have been working in these last few months. The new Government hasn’t exactly boosted confidence in the sector, with its cuts to funding for renewables and its new subsidies to encourage the use of more fossil fuels.
“When we launched the first eco-bond five years ago, it was a fairly radical idea; we wanted to give people the chance to share in the financial benefits of the ‘green energy’ revolution, as well as cutting out the banks, which generally charge borrowers more than they pay investors.”