I’ve very pleased to tell you that we’ve just launched Brighton Energy Coop’s most recent share offer. This aims to raise more than £1,000,000 to install 950kWp of new solar in the Brighton and Hove area, and will add to the £680,000 we’ve raised in the past few years.
Our first new installation will be at Park Gate, a residential block on Somerhill Road in Hove. Here we aim to install up to 100kWp of solar PV, saving residents considerable amounts on their communal energy bills. See below for the system designs at Park Gate. This will add to our existing solar portfolio at Hove Enterprise Centre, Shoreham Port, City Coast Church and St George’s Church.
Members will receive a projected 5% return on their investment, plus a 30% EIS tax break on the amount they invest.
Our share invitation, therefore, invites you to purchase a ordinary shares in our Community Benefit Society: Brighton Energy Ltd (BEL) and thus help us raise the money to finance the development, marketing and capital costs of our new projects.
Over the last few years we’ve amassed a wide range of experience – from contracting installers to maintaining and operating functioning solar PV systems. As well as generating bucket loads of clean, green energy, our financial experience has also reaped rewards: from August we plan to pay a 5% dividend to all our current members (subject to our accounts being completed and approved at our AGM) on time and as promised in our previous share offers. This is in addition to the 30% EIS tax break that members have already qualified for.
Many thanks to our many hundreds of members have supported us in the creation of our four-year old organisation. It’s been an incredible journey, and it’s such an inspiration to have so many people as part of what we are doing. You can join them by becoming a member and adding your voice to the community energy revolution that’s building in Brighton – and beyond.
Brighton Energy Coop