Good Energy redeems its first Bond

RNS Number : 7785E

Good Energy Group PLC

13 February 2018

 

Good Energy Group PLC

("Good Energy" or the "Company")

Good Energy redeems its first Bond

 Good Energy Group PLC ("Good Energy" or the "Company"), the AIM-listed renewable energy supply and generation company, today announces that it will redeem its first bond ("Good Energy Bonds I") on 29 March 2018.

Through their investment in Good Energy Bonds in 2013, 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.

Following the sale of Newton Downs into community ownership in December 2017 and having reached agreement to sell the solar farm at Brynwhilach into community ownership later this year, the purposes for which Good Energy Bonds I were raised will shortly have been fulfilled.

A number of bondholders have told us they would like to continue holding their Good Energy Bonds I to support the work we do. Good Energy has today written to all holders of Good Energy Bonds I offering the opportunity to continue their investment in Good Energy Bonds I at an interest rate of 4.25% per annum (4.50% effective for Good Energy customers). Those continuing their investment will be entitled to request repayment of their holding on 22 November 2019 or annually thereafter. All other terms and conditions related to Good Energy Bonds I will remain the same.

Good Energy Bonds I holders who wish to continue their bondholding must notify the Company by 1 March 2018. Bondholders who are ready for their holding of Good Energy Bonds I to be redeemed need take no action.

Good Energy Bonds II will not be affected.

 [Ends]

Enquiries:
Good Energy Group PLC	[phone]
Juliet Davenport, Chief Executive Officer
Denise Cockrem, Chief Financial Officer
Stephen Rosser, Company Secretary
Investec Bank plc	[phone]
Jeremy Ellis
Sara Hale
Smithfield Consultants	[phone]
Alex Simmons

Notes to editors:

·      Good Energy is a fast-growing green energy company, generating and selling 100% renewable electricity and supplying carbon-neutral green gas to households and businesses across the UK.

·      An AIM-listed PLC, and founding member of the Social Stock Exchange, Good Energy was established in 1999 to empower households and business to address climate changes through their choice of energy supplier.

·      The Company has been awarded 4 out of 5 stars by Which? for customer service in 2016 and 2017, and has been awarded a "Best Buy" by Ethical Consumer.        

·      As at 30 June 2017, Good Energy reported 71,150 renewable electricity customers and 42,750 carbon neutral gas customers. It also provides Feed-in Tariff administration services to 137,900 sites, bringing the total number of customers to 251,800.

·      Good Energy is the owner of Delabole Wind Farm, the UK's first commercial onshore wind farm and owns and operates Hampole Wind Farm, near Doncaster. Following the sale of Newton Downs Farm and Brynwhilach Farm, the Group will own and operate six solar farms.

·      Good Energy received an average customer advocacy of 45. A net promoter score is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company's products or services to others. It is used as a proxy for gauging the customer's overall satisfaction with a company's product or service and the customer's loyalty to the brand.

·      Good Energy has won a number of awards, including Renewable Energy Association Company of the Year Award 2016, Business Green Company of the Year 2015, and was named Social Impact Company of the Year at the 2014 and 2015 Small Cap awards.

 

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