UK independent renewable energy supplier Good Energy has raised £3.1 million and reported a significant over-subscription in its latest share offer.
The majority of the 2,000 individual applications were from Good Energy customers.
The which supplies 100% renewable electricity and green gas and also generates power from its own solar and wind farms, has a history of raising funds through its customer base and other investors.
The money raised through the share offer will be used to invest in Good Energy’s operational platform, generation portfolio and to further strengthen its financial position.
Juliet Davenport OBE, Chief Executive of Good Energy said:”This a strong signal that renewable energy remains an attractive investment.
We’ve gone back to our roots by inviting customers, bondholders and shareholders the opportunity to invest and once again there has been a real appetite from them to get involved. Customer-ownership is a big part of our ethos.
“It’s our most successful share offer since Good Energy was admitted to AIM in 2012 and our second most successful fundraise with significant participation from our customers.”
.The company has 220,000 customers and aims to grow fivefold to one million customers (household equivalents) by 2020.