NORTHERN Gas Networks (NGN) has launched a green bond to give the public the opportunity to invest in a hydrogen-ready network.
NGN has teamed up with crowdfunding platform Abundance to launch the bond which will help fund the upgrade of pipes to prepare the gas network to transport hydrogen.
It’s the first time a regulated energy distributor has offered a green bond for members of the public, allowing everyone to participate in the transition to net zero emissions.
The investment seeks to raise £1 million through a lower-risk, long term investment with returns of 1.6 per cent a year over a 10-year term. The minimum investment is £5.
Mark Horsley, CEO, Northern Gas Networks, said: “The UK energy sector is facing an exciting transition Repurposing the gas network to transport hydrogen is likely to be the least disruptive and most cost effective solution to zero carbon home heating for the vast majority of the UK homes.”
To find out more, visit abundanceinvestment.com/northern-gas-networks.