Good Energy to redeem bonds after solar farm sale
AIM-listed company Good Energy Group announced on Tuesday that it will redeem its first bond on 29 March.
The renewable energy supply and generation company launched the initial bond offering, named Good Energy I, in 2013, paying interest of 7.25% and raising £15m.
"Good Energy's bondholders have supported the development of thirteen solar farms across the UK and over 150MW of renewable projects, generating enough renewable electricity to power over 37,000 homes every year," the company said in a statement.
The bonds were to be redeemed in light of the December sale of Good Energy’s Newtown Downs solar farm into community ownership and the agreed sale of the Brynwhilach solar farm set for later this year.
Good Energy focuses on providing renewable energy to homes throughout the UK, establishing solar and wind farms such as the Delabole site, which was the first commercial wind farm in the UK.
The company said bondholders who wished to continue with their investment in Good Energy Bonds I were free to do so, with interest being set at 4.25%, but any holders wanting to do so needed to contact the company by 1 March.
As of 1640 GMT, Good Energy Group’s shares were up 0.73% at 138.50p.