Our second public share offer is now closed, fully subscribed. It raised £350,000 for our next projects – see below.
Following our successful first share offer in 2011 it has become apparent to the directors that there is an opportunity to employ a limited amount of additional capital so that BWCE can take advantage of unique investment opportunities as they arise.
These funds will be used to:
- Provide pre-construction finance for permitted solar PV projects. These are projects that we will be implementing with partners. Pre-construction finance is needed to cover costs such as site clearance, securing grid connection and deposits to secure a guaranteed price for the solar panels.
- Invest in solar pv projects currently in the pipeline, including a 250kW system in Braydon Fields in Wiltshire and a 30kW system on Lewis House in Bath.
- Securing rights to projects that are already permitted. For example purchasing a project from another developer that already has planning permission but has not yet been built.
It is important to note that these, or other investments, will only be made if they achieve a minimum return of 9% and therefore do not adversely affect our ability to pay our target return of 7% to our members, with a surplus to our community fund.
By purchasing shares in this offer you will increase your shareholding in BWCE. As you are aware BWCE has already made a return of 7% to members in 2012 and will do the same in 2013.
We have been given pre approval by HMRC that shares purchased in this Limited Offer will be eligible for the Enterprise Investment Scheme (EIS). This means that UK taxpayers can claim 30% of their investment back, up to a maximum of the amount of tax that they have paid.
Due to project timescales this offer will only be open from 23 July to 23 August 2013-07-23.
We anticipate that this will be a popular offer so in case of over subscription applications will be dealt with on a date-received basis.
We have also made a list of questions people have frequently asked us. (FAQs) If you cannot find the answer to your query don’t hesitate to contact us.
Our first share issue closed after successfully taking in £721,350 from nearly 200 members.