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

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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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