We hope to be in a position to issue an investment prospectus for the Newton Downs 5 MW solar project with a share offer in second half of 2017, but this still depends on the developer accepting our offer price (the planning condition requires them to accept a price equal to the average of 3 offers, which we have so far not been able to meet).
We intend to reach agreement in principle with the developers of the Creacombe 7.3 MW project on the basis for purchasing that site from them. The financial viability will depend on obtaining a sufficient purchase price for the electricity and keeping construction costs below recent levels, as there will be no feed-in tariffs or ROC subsidies.
Shareholdings (or more accurately loans to the company) will be offered interest rates that will be equivalent or slightly lower than what we would have to pay for a bank loan.
If you would like to be informed as soon as the investment prospectus is issued please complete the application for membership form here. The nominal membership fee is £1.
Following a recent government announcement capital invested will no longer be eligible for Social Investment Tax Relief (SITR).
For further information on the investment opportunity for Newton Downs and some FAQs, particularly on how you can pass on the investment without paying inheritance tax see our handout.
The capital is normally repayable during or at the end of the project, but may be withdrawn but not transferred at any time for normal shares. For those wanting to make a longer term commitment there is an option to have non-withdrawable but transferable shares which can be passed on to family without being subject to inheritance tax after two years.
For more information and an example see here