About this time last year, we launched our first ecobond – a fairly radical idea at the time.
We had three principle aims:
- To give our customers the chance to share in the financial benefits of our work and the green energy revolution generally, without having to put things on their roof tops (which doesn’t work for everyone).
- To cut out the middlemen bankers who generally charge much more to borrowers than they pay to savers.
- And to raise new sources of finance to speed up the rate at which we can build new sources of green energy. Bridging our ‘funding gap’.
And when we launched it this time last year we were both excited and a little anxious, as to how it might be received.
We needn’t have been. It was a smash hit, raising £10 million with ease.
Earlier this year, No 10 invited Ecotricity to a conference to present the ecobond concept to the UK Nordic Baltic Summit, which was attended by Prime Ministers (nine no less!), including David Cameron.
And with the money raised we set about building a windmill to power a solar panel factory (nice one that), the UK’s first major Sun Park later in the summer – and a third windmill to power Ford’s diesel engine factory at Dagenham.
We also carried on with our pipeline of projects – in planning.
And a few weeks ago we found ourselves holding planning permission for another 19 windmills – which needed funding.
So we launched ecobond two, last weekend.
All being well we’ll raise the £10 million that we’re seeking and that will enable us to increase our green energy capacity by almost 50%.
ecobonds are firmly a part of what we do now – each year as we accumulate more projects to build, we hope to be able to launch another ecobond. In doing so, we believe that more people will thus join our work and share the benefits – and together we’ll build more new green energy sources – and do it faster than Ecotricity could alone. People Power.
Further information & details of how to apply for ecobond two here: http://www.ecotricity.co.uk/ecobond