SELCE celebrates success of second community share offer - South East London Community Energy

SELCE celebrates success of second community share offer

Posted by | August 16, 2016 | Uncategorized | No Comments


Corks popped in the office last week as SELCE celebrated the success of its second share offer. Thanks to the support of new and returning investors, we have now raised a further £120,000 to install solar arrays on three more primary schools in SE London. A huge and heartfelt thank you to everyone who took part in the share offer. In fact, the offer was so popular that we oversubscribed and had to close a few days earlier than planned. Never one to let the grass grow beneath her feet, Giovanna is now overseeing the start of installation work on the schools’ roofs.

Photo: a big thanks to Alex (second from right) for providing the bunting, party drinks and food and to Susannah (second from left) for fashioning a mini solar panel to go on the top of our celebration cake. Also pictured (from left to right) Anna, Camilla, Sergio and Giovanna.

Who benefits

• The schools and community centres, who are our solar partners, benefit from reduced energy bills

• The shareholders benefit from annual interest payments of around 4-5% (and they get their investment money back in full after 20 years)

• SELCE benefits from government payments that are given to organisations which generate renewable energy (feed-in tariffs).

• SE Londoners paying more than 10% of their income on energy bills benefit from SELCE’s initiatives to help reduce their bills and stay warm. These initiatives will be funded by any profits we make from the feed-in tariffs.

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