Thanks to the support of our community investors, we are now able to install solar panels on four new sites across South East London.
Each project will benefit from lower electricity bills and the use of solar panels as an educational resource. The income generated from these new solar projects will help to fund our fuel poverty and energy efficiency work.
Investors will be receiving formal confirmation and their share certificate shortly. We will begin installing the new solar arrays in January.
Investors can request to withdraw their investment after the first three years of the project. Early repayments will be made subject to availability and board agreement. A summary of Share Offer 3 is as follows:
- Opened 1st November 2019
- Closed: 20/12/2019
- Minimum investment per member: £250
- Maximum investment per member: £20,000
- Projected 3% annual return on investment
Our previous projects in 2015 and 2016 are already producing good results:
- £370,000 has been raised across two share offers
- seven schools have benefited from our solar arrays
- 326kWp of electricity can be generated by the arrays
- 639 MWh of solar electricty has been produced – so far
- £23,400 in electricity costs has been saved by the schools
Share Offer 3 will provide solar arrays for four new sites: a church, two leisure centres and a public art project. We will be helping to make SE London a better place to live in by:
- Generating 217,326 kilowatt-hours (kWh) of clean, solar electricity per annum
- Save approximately 80,000 kg of CO2 emissions in 2020 equivalent to driving around the Earth almost 6.5 times
- Save the sites an estimated £52,000 in electricity costs over the project life, freeing their funds to invest in the needs of the communities they serve.
More details can be found in our share offer document here:
We are a society for the benefit of the community that can lawfully issue withdrawable shares to our membership. However, we are not directly regulated by a statutory body.
As with all risk investments, withdrawable shares could lose some, or all, of their value and they are not protected by the Government’s Financial Services Compensation Scheme nor the Financial Ombudsman Service.