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en10ergy

What they do

Please note that this information is no longer updated and is for reference purposes only.

en10ergy was set up by Muswell Hill Sustainability Group in 2009 to install renewable energy in Muswell Hill and surrounding areas, to raise awareness of climate change issues and to encourage local residents to take action.

en10ergy aims to advance the protection and improvement of the environment through action in and around London N10. en10ergy is not seeking to maximise its profits but to generate renewable energy; to contribute to the support of the community’s schools financially, educationally and in the achievement of their sustainability agendas; to pay a fair interest return to its investors sufficient to obtain and retain the capital it requires; to contribute to supporting the local community; to improve the efficient use of energy; to engage the community and schools in issues relating to climate change, energy and practical local solutions; and to engage in community development, cohesion and self- help.

The project

 

The funds raised by this offer are to be used for the installation of photovoltaic panels on roofs at Woodside High School, Haringey. The output from this installation will be sold to the school, and its partner school, Riverside, which shares the site, at a lower rate than they pay for commercial electricity. The project will last for twenty years — the length of time it will receive a Feed In Tariff, and the panels will then be donated to Woodside to receive the electricity free during the remaining life of the panels.

About en10ergy Ltd

 

en10ergy was set up by Muswell Hill Sustainability Group in 2009 with the following aims: to install renewable energy in Muswell Hill and surrounding areas, to raise awareness of climate change issues and to encourage local residents to take action. It was originally established as an Industrial and Provident Society in 2009, now, under new legislation, defined as a Registered Society under the Co-operative and Community Benefit Societies Act 2014.

en10ergy have over 100 shareholders, mostly based in Muswell Hill and surrounding areas. Income is generated through the Feed In Tariff from solar roofs, and this is spent on local community benefit initiatives, in accordance with the constitution as a society. These initiatives are delivered by Muswell Hill Sustainability Group and include energy efficiency workshops, green open home weekends, and provision of low cost energy-saving equipment.

Track Record

 

en10ergy has installed solar panels on the roofs Marks & Spencer in Muswell Hill Broadway (operating since 2010) and the Methodist Church in Pages Lane (operating since 2011). These projects were mostly funded through grants, but also through a small community share offer.

This is en10ergy’s second share offer, and differs from the first in being ‘interest shares’, with income, expenses and payments to shareholders ringfenced. The generosity of original investors has been crucial in establishing en10ergy as a social enterprise, all the more so since those ‘non-interest’ shares paid no interest and offered only the ‘social dividend’ of progress towards meeting the communal challenges of energy use and climate change. In the current regulatory environment the Feed In Tariff scheme, aimed at supporting UK growth of renewable power, makes it difficult to recompense investors in the early years of a solar scheme. Hence en10ergy has decided to use some of the income from its previous activities to enable this scheme to be viable and will recoup this in later years.

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