Newport Solar Share Offer
Project Category: Social Enterprise
Gen Community’s first project is in Newport, South Wales. Once Gen Community has raised £1 million, solar panels will be installed on 240 low income houses, reducing their electricity bills by 25% annually, helping to alleviate fuel poverty.
The panels are gifted to the occupiers at the outset of the project, taking effect at the end of the 20 year period. With an inverter replacement priced in, each householder should have at least 10 years of usable life left in the equipment.
The investing members receive a targeted 7% per annum, a 75% share buyback over the lifetime, and coupled with EIS relief (advance assurance has been achieved) results in a 10.22% Internal rate of return. The share offer opened on the 24/11/2012 and closes on the 31/01/13. Please check out Gen Community’s website for more details and how to get involved.
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