Projections are based on a number of assumptions and there is no guarantee these projections will be achieved.
Income is from selling exported electricity as well as from payments through the Renewables Obligation (RO) scheme and a number of Embedded Benefits.
Costs comprise of operation and maintenance management charges, insurance, rent, repair provisions (e.g. for inverters), Gower Regeneration Ltd administration (e.g. accounts and shareholder management) and decommissioning costs.
The project was successfully accredited for RO with Ofgem by 31st March 2017 and has secured a RO of 5.20p/kWh for the first year of operation which accounts for 51% of projected income during the first year of operation; the PPA of circa 4.97p/kWh has been secured through a 1 year contract with Good Energy (the price is based on an estimated all in one price for power and embedded benefits provided by Good Energy).
Alternative refinance packages are being explored in case the Offer is not fully subscribed. Based on current discussion with lenders, it is not expected that the terms of a refinancing package would be detrimental to the interest rate payable to members, but there would most probably be a reduced amount of funds available for delivering wider social impacts.