Members may recall that back in May 2016, at the time the SHARE Church Park Solar PV installation was nearing completion, we provided fixed term Investment Opportunities to members, rather than obtaining commercial loans.
Members were able to directly support SHARE’s aims and the Church Park project, and benefit from a preferential interest rate. At the same time, SHARE was able to obtain funding at lower cost than would have been possible from banks, and the full financial benefits remain within the community. Our 40kW solar installation at Church Park was fully funded by members. Since then, routine interest has been paid, and some loan capital has been repaid. The next substantial repayment of capital is in May this year.
Therefore we are now able to offer a new opportunity for Members to invest in SHARE by providing new loan funding. The Directors would like this new investment opportunity to be as widely available as possible.
The loan period will be 2 years, at the end of which the loan will be repaid in full (unless there is mutual agreement to extend the loan agreement). Interest at 4% per annum will be paid at the end of year 1 and at the end of year 2. You may offer to invest as much as you like, subject to a minimum of £100. If this opportunity is oversubscribed, the Directors will amend the amounts of individual loans while maintaining the membership participation as wide as possible.
If this Investment Opportunity is of interest to you, please contact us by email: SHARE@south-hill.co.uk (or phone SHARE Treasurer Sue Skelton: 01579 382397) and full details will be provided, including a financial projection for the Church Park project.
The closing date for offers is the 29th April 2018. Graham Beven SHARE Financial Director
Other SHARE News:
The visit to the Bray Shop solar farm has been postponed by the owners, Lightsource. This is due to a major “realignment” with BP who now own 43% of the new company, Lightsource BP. You can read about it here if you want to know more…
Visit to the Plymouth Incinerator, we still plan to go ahead with this when more people sign up.
We will soon be publishing an “A Guide To Saving Energy In The Home” which will be delivered to every household in the parish. Look out for yours and please give us any feedback.
A Happy Easter from all at SHARE