Stroud £2.75M Community Energy Share Offer Now Open

Dear Supporters of Community Energy

Our community energy share offer for the two Stroud wind turbines, known as Resilient Energy Mounteneys Renewables Ltd (REMR) is now open and shares are selling fast.  These shares will be full Equity Shares in the two 500kW wind turbines, run as a Community Benefit Society based in Stroud, Gloucestershire.

The Society aims to raise £2,750,000 with the issue of £1 Shares, payable in full on application, to construct the two 500kW wind turbine at Mounteney’s Farm and Cherry Rock Farm both near Kingswood in Stroud District, Gloucestershire.  The share offer provides the opportunity for investors to invest in real assets which will generate a tangible local environmental, social and economic benefit whilst earning investors a reasonable economic return.  Investors can apply for a minimum of £250 of Shares up to a maximum of £100,000 of shares (limited to £45,000 of SEIS shares).

You can invest by clicking on the link here:

www.ethex.org.uk/REMR

The project will help create community resilience within the Kingswood, Wickwar, Hillesley, Charlbury communities and the broader Stroud District, with a primary focus on the GL12 and GL9 postcode areas. It will provide a direct community donation to help address current needs and future challenges, and will support other community resilience initiatives, including those targeting the deployment of community owned generating capacity. The project aims to achieve this by donating approximately £810,000 to the host communities over 20 years and creating an additional rolling fund from the Society’s expected surplus to support wider community initiatives. Some of this surplus will be targeted at alleviating fuel poverty by reducing energy bills and creating local jobs. The energy produced will help reduce the UK’s carbon dioxide missions and dependence on fossil fuels by installing low-carbon renewable generating capacity. The two wind turbines are projected to deliver 2,847 Mwhrs of electricity per annum leading to a reduction of around 1,342 tonnes of CO2 per year.

The Society has sought advanced assurance from HMRC that investment in shares in this scheme will be eligible for SEIS and EIS tax relief, subject to the individual’s own circumstances.  Provided that the Society qualifies for SEIS and EIS relief, those of its shareholders who invest, and pay UK income tax, should, provided they meet the requirements of the Scheme, receive tax relief under the scheme, reducing the individual’s tax liability by between 30% and 50% of the sum they invested. This payment is not made by the Society, but must be claimed by the member on their tax return.  We are reliably informed that this advanced assurance will be granted imminently.

We will have up to £150,000 of SEIS Shares under the Seed Enterprise Investment Scheme (SEIS) for investors that are prepared to invest earlier and up to £2,600,000 EIS (30% Tax Relief) shares.  The offer of SEIS and EIS shares will close on 24th November 2015 although non SEIS/EIS shares will continue to be sold if we do not raise the full amount by 24th November.

We are selling these shares this time via the Ethex online share platform as outlined above and again here:

www.ethex.org.uk/REMR

The shares will pay an expected target rate of interest which will be capped at 8% interest per annum + SEIS/EIS for UK taxpayers.  The effective rate of interest over the life of the project is expected to be 7.5% + SEIS/EIS = estimated Internal Rate of Return of 14.2% for SEIS and 10.6% EIS qualifying shares.

Yours sincerely,

Andrew Clarke

Director Resilient Energy Mounteneys Renewables Ltd

 

 

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