The community energy retailer looking to expand to the Border region has raised $748,149 from 412 new individual investors over the past few weeks.
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Enova is calling for more people to jump on board as shareholders before the crowdfunding offer ends on Saturday.
Customers can also sign up without being shareholders and will be able to purchase electricity from a mix of solar energy and energy off the national grid.
Enova Chair Alison Crook said social enterprises had been forced to act themselves and disrupt the market “in the face of continuing government failure to act on climate change”.
“We are a social enterprise and half of our net proceeds go back into community renewable energy projects, education and energy efficiency services,” she said.
“Enova’s community-owned energy solutions, such as our recently announced partnership with Border Trust in Albury-Wodonga to create Border Community Energy, means money stays circulating in local economies to benefit people, jobs and businesses.”
Ms Crook also called on the federal government to help keep small retaillers in the energy market as competition for big companies which were increasing power prices.
“They could do that by either providing all small retailers with access to a slice of one of the purchase contracts they set up to purchase power for government, or they could simply stand behind us as a guarantor to say they would buy any power we had contracted for into the future,” she said.
Interested parties have been encouraged to sign up as a customer or consider buying shares in Enova Energy and can find out more information online at www.enovaenergy.com.au.
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