Low Carbon Hub Hydro & Solar PV Share Offers extended
Low Carbon Hub in Oxford is one of the most important community energy organisations in the UK. It's poised to start a revolution in the way we develop and use our energy.
Jonathon Porritt, co-founder of Forum for the Future
We received confirmation from our board today that our share offer will be extended – from today’s deadline of 11th
July to the new deadline of 1st August 2016.
The last 4 days has seen investment in our share offers rise by 10% as investors get their heads around the financial impacts of Brexit for community share offers. In short: community energy investments can provide a safe haven in stormy times. And index-linked investments like ours make even more financial sense than they did before the 23rd June.
Project update -- where we are: The finance is in place for all of our pipeline projects. Rooftop solar PV: We signed a lease with Crompton Technology Group yesterday and will sign with Prodrive later this week. These are our two biggest solar rooftop projects (and two of the biggest community-owned solar rooftop projects in the UK!) Being community-owned means these projects will contribute up to £400,000 to our community benefit fund over 20 years. Eight of our fourteen solar schools projects are already completed, and the remaining installations will be commissioned by the start of the new school year. We have real-time remote monitoring of all of our projects and are using this data to optimise performance. On the hydro front, we are due to break ground at Sandford Lock in August and are also gearing up to launch our Fish Pass campaign.
Now we want to bring more of these projects into local ownership and create greater community involvement. Less debt and more equity means more community benefit – and more of the things that can create a massive change in Oxfordshire’s energy system.
Share Offer 2016 -- it's all about people power. Let’s bring local renewable energy into community ownership!
Bringing our renewables projects into local ownership through our 2016 Share Offer has a number of objectives:
(1) it converts LCH's construction loan debt to equity, which is what makes LCH's community benefit business fund and model possible, keeping the revenues and benefits from local renewable energy generation in local circulation.
(2) it creates a community of local people, connected to Low Carbon Hub through a Community Benefit Society, who want to bring a not-for-profit, community-owned, renewable energy system for Oxfordshire into existence.
(3) with a projected financial return of 5% IRR (which is index-linked and based on RPI + 3%), it creates a bank-beating social impact investment opportunity for local people and institutions. (Institutions can also invest -- Linacre College was the first College to invest the maximum of £100,000).
How to invest
Low Carbon Hub’s share offer investments are handled by the award-winning positive investment platform Ethex. If you are ready to invest and would like to invest online please go straight to the Ethex website: www.ethex.org.uk
Alternatively, you can print, fill out and submit this paper application form and send it to: Ethex, The Old Music Hall, 106-108 Cowley Road, Oxford OX4 1JE Tel: 01865 403 304
For more information about Low Carbon Hub go to: www.lowcarbonhub.org/invest
If you'd like to talk to one of us please call us on 01865 246099.
For details of the offer please read our Share Offer Document:
Community benefit fund
Hitting our share offer targets will generate a community benefit fund of up to £3.5 million over the next 20 years, to invest in local community benefit projects. We will continue to work with local low carbon groups, local councils and universities to make the biggest possible difference with this fund. Our recent 2016 Ashden Award (the world’s leading green energy award!) comes with a year’s worth of business support, which we will use to scale up our impacts as we work towards our vision for an energy system we can all feel good about.
Read our Community Energy Manifesto for more information about our vision for Oxfordshire's energy future:
Stay in touch with us throughout construction and as we develop local community benefit projects -- sign up to our newsletter at www.lowcarbonhub.org/contact
We hope you will be a part of this new approach to energy in Oxfordshire by investing in our vision!
The Low Carbon Hub Team