7th Jun 2016 08:17
LONDON (Alliance News) - Renewable energy generator and supplier Good Energy Group PLC on Tuesday said it will raise GBP3.1 million through a share offering to back its growth plans.
Good Energy will issue up to 1.5 million shares at 208.00 pence per share in the offering, which will target existing customers, bondholders and shareholders.
Shares in Good Energy were down 2.1% on Tuesday morning at 212.50p.
The company said it will use the funds to invest in its operational platform, acquire new generation sites, and improve its financial position.
"We are now embarking on the next stage of our growth journey, in which we are aiming to deliver a five-fold growth in the number of customers (household equivalents) by 2020, helping more people to benefit from and meet the increasing consumer demand for 100% renewable electricity and green gas," said Juliet Davenport, Good Energy's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Good Enrg