5% inflation linked bonds to help fund our solar farm and generate income for local community projects!
Last month local people and community groups attended our drop-in events to learn Burnham and Weston Energy CIC. We were very happy to see a range of community groups and individuals interested in learning more about our Sunshine grant fund, fuel poverty campaign and the opportunity to invest in solar bonds. Our bond offer has now launched and allows people to invest in Burnham and Weston Energy CIC and have a say in how we’re run!
The bonds are available on the Triodos Crowdfunding website and will pay an initial interest rate of 5 per cent a year, which will rise every year with inflation. Interest payments are not guaranteed, and capital is at risk. The bonds are eligible to be held in a Triodos Innovative Finance ISA (IFISA) which allows investors to earn interest tax-free. Be aware that IFISAs have eligibility criteria and any tax savings depend on personal financial circumstances.
Investments can be made from £200; roughly equivalent to 2 of our 36,000 solar panels! Each bondholder will also be given a single share in Burnham and Weston Energy CIC, enabling them to take part in AGM decisions on a ‘1-member 1-vote’ basis.
You can visit the Triodos Crowdfunding website to read the bond offer document and find out more.
Jake Burnyeat, Director said: “The shift to a decentralised green energy system creates the opportunity for communities to take back control, and reverse the energy spend drain on the local economy. Burnham and Weston Energy has been set up to help the communities of Burnham and Weston take advantage of this opportunity, with around £3 million in surplus profits going into the local community over 23 years. We want to involve investors who share our values.”
The community solar farm has been in operation for two years and expects to pay out £50,000 per year from the outset to support the community purpose of Burnham and Weston Energy CIC. Half is to be used for the Sunshine Community Grant Fund supporting local clubs and sustainability projects, and the other half will tackle fuel poverty to help households who are choosing between food and warmth.
Important information
An investment in Burnham and Weston Energy CIC bonds is not covered by the Financial Services Compensation Scheme. Burnham and Weston Energy’s ability to pay the interest and repay the bonds is not guaranteed and is dependent on the continued success of its business model. These bonds are unquoted securities with a fixed repayment date and although the bonds are transferable, investors should be aware that they may not be able to access their capital during the life of the bond.