New Community Energy Share Offer
SSCE is delighted to be partnering GEN Community in the launch and promotion of a new Community Energy share offer. When fully subscribed the project will fund the installation of solar photovoltaic panels on the roofs of 25 schools across Staffordshire while projecting a fair return to shareholders and the establishment of a Community Fund. Full details of the share offer and an application form can be found here.
A promotional event will be held at The Friary School in Lichfield (Eastern Avenue, WS13 7EW) on Monday 7th April, 6.00-8.00pm in the school library, providing an opportunity to share more information about the scheme and to alert the public to the investment opportunities arising from it.
The 25 schools which will receive free electricity from the panels include Willows Primary and the Friary in Lichfield; Chase Terrace Technology College, Erasmus Darwin Academy, and Holly Grove primary in Burntwood; and Greysbrooke Primary in Shenstone. Five schools in Tamworth will also benefit as will schools in Cannock, Stafford and other parts of Staffordshire.
GEN Community (a community benefit society) is offering shares to fund the project and aims to raise £880,000 through this offer. Together with a £200,000 loan, this will fully fund installations on the 25 schools. The investment is projected to provide an internal rate of return of 6.91% – or 10.48% with Enterprise Investment Scheme Tax Relief.
The minimum subscription is £500 and the offer has been extended until 30th April 2014. If you decide to subscribe please indicate in the appropriate box on the form that you heard of the share offer from SSCE.
It is anticipated that the project will produce a surplus to establish a Community Fund which SSCE will manage and distribute on GEN Community’s behalf to fund local energy projects in the Staffordshire area.
Seed Enterprise Investment Scheme relief (SEIS)
Just a reminder to our Members to claim SEIS relief on your tax return for the financial year 2012-13 if you are a tax-payer. A valuable benefit, the scheme allows those eligible to re-claim up to 50% of their investment in SSCE. Forms SEIS3, which you need for your claim, were sent out to our shareholders earlier this year. Details of the SEIS can be found at www.hmrc.gov.uk/seedeis/ .
Solid Wall Insulation
Many homes in this area are of solid wall construction. Solid wall homes are often poorly insulated and lose a high proportion of their heat through the walls.
To help residents of Lichfield to understand more about solid wall insulation, Southern Staffordshire Community Energy were asked by Lichfield District Council to commission a video showing how it works and how to identify a solid wall property. View video here.
If you live in a solid wall property and would like further help on insulating it, or to request a free energy survey, please contact Kate Sadler on 07565 963282 or email her on email@example.com.