Improved terms for community energy bond offer

At a time when government inaction on climate change, the cost of living crisis and energy security are high on the public agenda, Ethex is offering everyday people in the UK the opportunity to invest to support a successful community renewable energy project that provides benefits for its local community in Shropshire.

Sheriffhales Community Energy is a Community Benefit Society that is raising finance via a 5% IF ISA eligible bond offer to complete the buy-out of an active and established solar array to bring it into full community ownership. The array benefits from the government-backed feed-in tariff (FiT) subsidy with a guaranteed minimum price for the electricity it supplies to the local distribution network. The income that is generated from the sale of this electricity is put to work funding a range of highly impactful local initiatives.

In the past week, the UK Government has been forced to re-think its Net Zero Strategy which sets out plans to reduce harmful emissions and decarbonise all sectors of the economy to achieve net zero by 2050. This is because of a High Court Victory by organisations including Friends of the Earth that deemed the current strategy unlawful, now the government must revise its strategy and lay out a credible plan for meeting emissions targets.

Grassroots organisations like Sheriffhales Community Energy are taking local action to cut emissions and keep the benefits within the local community and it is vital that they are supported to succeed in their vision to provide a clear pathway for the UK to achieve its net-zero targets. The established 3.2MW community-owned solar array produces around 2,984 MWh of clean, renewable energy each year - enough to power 825 homes.

This July, the UK Government published its Energy Security Strategy as the effects of the war in Ukraine and soaring energy prices have led to uncertainty about the security of our energy supply. One of the areas addressed is the need for the UK to generate more “homegrown energy” in order to reduce our reliance on imported fossil fuels and to back up the grid supply to deliver a cleaner, more affordable and secure energy system in the UK.

This highlights the importance of community energy organisations like Sheriffhales in producing clean energy that is not only cutting CO2 emissions but demonstrating how communities can take back control from the energy giants by generating their own energy that brings benefits back into the local area.

Just about every household in the UK is bracing themselves for another round of energy price hikes, loading more misery on millions of people already struggling with the cost of living crisis. 

Sheriffhales Community Energy is dedicated to helping local people who are struggling with the cost of living. The money generated from the sale of the electricity feeds into a community benefit fund. The array is expected to generate around £1,000,000 over its lifetime to fund local community initiatives that include help with energy efficiency measures and food box deliveries for vulnerable people within the Sheriffhales parish area.

CEO of Ethex, Lisa Ashford talks about why she believes this bond offer is so important at the moment: 

Peter Bonsall, Director of Sheriffhales Community Energy says:

The Sheriffhales Bond offer is currently live on the Ethex platform and the term has been extended until the end of September to enable them to reach their revised target raise of £565,000. The revised dates and targets are due to a recalculation of finances by the Community Benefit Society which has also seen the targeted return for investments increase to 5%. Investments are also eligible to be held within an Innovative Finance ISA for potential tax-free returns. 

Investments in the bond offer start at just £100 and will enable Sheriffhales to complete the buy-out of the solar array, bringing it into full community ownership. To date, over £390,000 has already been invested, meaning they need to raise less than £200,000 to meet their target.
To find out more about this investment opportunity, visit their profile on the Ethex platform.

Capital is at risk and returns are not guaranteed.