The UK green energy company Ecotricity has launched its second ecobond scheme, worth GBP10m ($16m), as the company seeks to increase its electricity production.

The proceeds from the second round of ecobonds will be combined with revenues and put towards the installation of 19 wind turbines over the course of 2012.

The turbines have already been granted planning permission, and will increase Ecotricity’s renewable electricity generation by 50 per cent, pushing the company closer to its target of having more than 200 MW of operational capacity within the next five years.

Dale Vince, managing director of Ecotricity, said: “Our ecobonds give people the opportunity to share in the financial benefits of green energy, without the need to stick anything on their roof. And crucially, we cut out the middlemen, the banks, and pay people the same rate of interest on ecobonds that banks would charge us if we borrowed the money from them.”

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