COMMUNITY SHARE OFFER NOW CLOSED – £184,000 Raised!
- This offer has now closed as of November 27th at 5pm. A further share offer will launch later in January 2016.
- ACE have raised £184,000 through this and our first Pioneer Share Offer.
- Money will be used for immediate costs & for the long-term development of this community solar business. Immediate costs include project management & legal fees, development work, & the first installations of community-owned solar power by Avalon Community Energy!
- Immediate projects include installation of solar panels at Brookside Academy in Street, Somerset; and the installation of further panels on 8-9 rooftops in the Evercreech Junction Industrial Estate. The intention is that this share offer will support at least one of these schemes directly.
- ACE are targeting interest on your investment of 5% per annum. However, this offer also qualifies for SEIS tax relief, which allows for tax relief equal to 50% of the value of your shares provided you are a UK tax payer. More info on SEIS can be found here: http://www.seis.co.uk/about-seis/investors
- The minimum investment for residents of Mendip District was £50. For interested parties outside this area, the minimum investment was £500.
- Deadline for investment was November 23rd 2015 for cheques and 5pm on November 27th 2015 for BACS
- Contact Maddy Milnes for enquiries and further details: firstname.lastname@example.org
Update: November 29th 2015
Please read the letter below from our Directors
Dear Potential Investors,
Thank you for taking the time to consider this offer document for community shares in Avalon Community Energy. If this type of social investment is new to you, we hope you will consider carefully whether it is right for you. It is intended to strike a balance between financial rewards and community benefit, and should be seen as quite different to shares in a profit-orientated company.
We will use the funds subscribed to develop our community energy business, whose primary objective is to collect energy from the sun – the most accessible power source there is. This clean energy will be used locally where possible, and the remainder distributed through the grid to energy users all over the UK – including you.
We raised nearly £40,000 with our pioneer share offer and this has enabled us to progress our projects. We have several projects already signed up for solar PV installation that includes 8 roofs at Evercreech Junction and a further project in development with Brookside School in Street.
All these projects have been submitted to Ofgem for pre accreditation or pre registration, as appropriate, to fix the Feed in Tariff rate as of 30th September 2015. We anticipate most if not all will be successful.
ACE is not just about powering the community, but also empowering it – while we welcome members from all over the UK, it is people living locally to our solar panels that will be in control of how we develop and grow. We hope that this is a project you will want to get actively involved in.
Avalon Community Energy Limited