Our latest opportunities to invest have come to a close. Our share and bond offer are now fully subscribed. Thank you to all those who have expressed an interest.
BOND – THE BOND OFFER IS FULLY SUBSCRIBED & NOW CLOSED – The bond is for 2 years with a fixed interest rate of 5.5% a year for members of BWCE and South Somerset Community Energy Society (5% for non-members).
SHARES – THE SHARE OFFER IS FULLY SUBSCRIBED & NOW CLOSED.
We are also offering you the chance to become a member of BWCE by buying shares. The target rate of return on investment in BWCE is 7%. We have paid our our members a 7% a year for the last 4 years.
The money raised will go towards allowing us to take into community ownership a solar array sited a few miles from Crewkerne in Somerset. The array will be capable of generating 5MW of clean energy. The total projected cost of purchasing the Crewkerne solar array will be £5.96 million. The bond and share offer combined will be for £2.63 million with the balance coming from a loan from a commercial lender for £3.33 million.
Advantages to early investors
As the project is fully underwritten we will issue shares and bonds to investors whose applications we have received by 7 June 2016. You start earning interest from the date shares or bonds are issued, within a week of this date. This will give early investors the chance to start earning interest earlier. For information on early investment please see full details in the Offer Document. The full offer will finally close on 25 July 2016 and interest will accrue for all those investing between 7 June and 12 July within a week of the final close date.
And here are 9 good reasons to invest in next offer
How your interest is calculated for the Bond offer
Interest is calculated from the date your bond is issued. There will be 2 issue dates, one for applications received before 7 June, the other at the end of the offer on 12 July. The bond is a 2 year investment with the 5.0/5.5 % interest a year with interest paid annually for 2 years and the capital, or amount invested, repaid at the end of the second year. If you decide to redeem your bond after 2 years you will be repaid your capital and interest earned during the period. You may also have the option to renew your bond for a further period.
How to apply
Before you apply it is important you have read and understood the Offer Document which can be downloaded from this page above. Then, should you decide to continue, go to the Ethex website and apply electronically or complete a paper application which can be found at the end of the Offer Document.
Investment decisions must only be made on the basis of the offer document and not on information provided in this summary. Your original investment capital may be at risk and any return on your investment depends on the success of BWCE’s business as a whole. You should read the offer document in full, including the risk factors set out in the offer document, and the terms and conditions regarding this offer at Ethex before investing. You should consider taking appropriate financial and other advice before making any investment decision.
South Somerset Community Energy Society
BWCE is working with South Somerset Community Energy Society to help promote the share and bond offers and develop the opportunity for them to buy into the project after year 2. Shareholder members of South Somerset Community Energy Society will also receive the 0.5% bonus.
See the offer documents for more details.