This project has been fully funded and is now generating clean energy!
3.0%
Estimated return
each year
30%
Via EIS
20%
social return to
a Community Fund

About this project

Brixton Energy Solar 1 the UK’s first inner-city, co-operatively owned renewable energy project on a social housing estate. The project involved the installation of a 37.24kWp solar power station on the roof of Elmore House on Loughborough Estate in Brixton.

 

The capital cost for the solar photovoltaic (PV) installation was raised through a community share offer. Brixton Energy Solar 1 attracted 103 investors whom mostly live in Lambeth with nine from in and around the Loughborough Estate itself and raised £58,000 in less than a month.

 

You can also get regular updates on how much electricity is being generated by following the @BES_Generation twitter account.
 

 

£58,000

Raised of our £58,000 goal

103 investors

Frequently asked questions

Do I need to live locally to invest?

No. Any UK resident can invest in the project.

What is SEIS?

As a co-operative member you are eligible for tax relief under the Seed Enterprise Investment Scheme. Pursuant to this scheme, qualifying investors can claim tax relief of 50% of their investment. The relief is given by way of a reduction of tax liability, providing there is sufficient tax liability against which to set it.

When is the money taken from my account?

We use a direct debit facility to take the money from your account. This usually takes a few working days to clear.

Is my investment at risk?

The directors consider that this project is lower risk than many long-term investments because it is underpinned by the Feed-in Tariff (FIT), which is a Government-sponsored programme that guarantees payment for the energy generated for 20 years. Nevertheless, there are a number of risks you should consider. Please refer to the “Risk Factors” section of the Share Offer document for more information. In addition, you should seek independent advice if you have additional questions.

What is the mechanism for selling shares? Will the scheme always buy shares back?

Shares in an Industrial and Provident Society are different than shares you may have in public or other private companies. By law, you are not able to sell or otherwise transfer your investment and the project has been designed to encourage long-term investment. However, a provision for withdrawal of shares is available through application to the co-operative’s board of directors (on 180 days' notice and only after the first three years of the project). The co-operative will set aside a portion of money annually to allow for withdrawal and buyback of shares throughout the life and for payback at the end of the project’s life.

Need help?

If you have any questions about investing or the project please don't hestitate to contact us:

info@repowering.org.uk