Following investor feedback, we have relaunched our ethical, clean-energy bond offer, which gives 6% pa returns to those investing in the 4.6MWp solar farm at Puriton, Somerset.We aim to raise £2 million through this bond offer to finance our purchase of the large-capacity solar farm, which was built in December by the industry leading firm Anesco, and has a 20-year fixed feed in tariff in place. This site will increase the generation capacity of BEC’s community owned solar arrays to 9.3 MWp.
Community fund
The profits from the Puriton solar farm will contribute to a community fund worth £4 million for social causes in Bristol and Somerset – including £100,000 in 2016.
The re-launched 2-year bonds can be invested in via Ethex, the award-winning positive investment and savings platform. This fund will give fixed-rate returns of 6% pa.
The bond is designed to give people from anywhere in the UK the opportunity to:
- participate in the development of local, renewable energy resources;
- support the re-investment of surplus profits back into local communities;
- help reduce the impact of climate change, strengthen local energy supplies and improve energy security;
- earn interest on the bond at a rate of 6%, compounded each year and paid after 2 years.
The bond also offers the option to extend beyond 2 years on a rolling annual basis, offering a rate of 5% per annum.
Welcome new directors to the board
The relaunch follows the appointment of David Bunker and Jeff Kenna to our board, two of the UK community energy sector’s leading experts. Their appointment adds significant guidance, and over 40 years of community and renewable-energy experience, to the board.
Our director, David Bunker said:
“The fund raise has gone well so far, with some big name backers – including Close Brother Bank – and over one and a quarter million pounds through our bond and share offers. These are available to all, but created for local investors, some who will want to invest ethically and locally, and others who simply want a better rate than you’d get in an ISA or savings account.
“We’ve relaunched the bond having listened to feedback from the first round of fundraising and have created an investment that more closely meets this – particularly shifting it from a three- to a two-year product.”
We will use the £10 million to purchase sites and add arrays. The sites are: a 4.59 MWp site at Puriton, near Hinkley C in Somerset; a 4.2MWp site at Lawrence Weston, near Avonmouth, and 500 kWp through 19 projects on schools, churches and community centres across Bristol.
The bond is run in association with the community energy firm Mongoose Energy and is available through the award winning positive investment and savings platform, Ethex.org.uk.
If you’re a community group interested in our £100,000 community fund, register your interest by emailing: comunityfund@bristolenergy.coop.
How to invest
Find out more about how to invest in our ethical bond offer on Ethex.
