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Bristol Energy Cooperative

BEC 2 year Solar Bond - 2016 - OFFER CLOSED

£500 minimum

 

Investing in BEC bonds provides the finance to complete the financing package for the 4.568MWp solar farm at Puriton, south of Bristol, estimated to generate 4,650 MWh of electricity a year, equivalent to the consumption of 1,112 average UK homes, saving more than 49,000 tonnes of CO2 over the 25 year lifetime of the programme.The plant is already owned by BEC.

 

 


Financial return

BEC are forecasting an annual return 6% per annum, paid gross after 2 years. Interest will be compounded over this period. If extended, interest will accrue thereafter at 5% on an annual basis, paid each year.

Bonds are redeemable in full on the bondholder giving three months’ notice prior to 31 March 2018 (i.e., before 31 December 2017); or (subject to BCE’s right to redeem the bond early) bondholders may opt to extend beyond the 2 year initial term on an annual basis.

Returns to investors are not guaranteed.


Social return

Investments made on Ethex don’t just offer the prospect of a financial return. We analyse and report on the ‘social performance’ of each investment, to reveal the ‘social return’ your money delivers. Read more.


Minimum investment amount

£500


Maximum investment amount

None


Fees payable to purchase this product

Normal fees Portfolio Service subscriber fees
None None

Statutory charges

None


Why invest in BEC?

The provision of significant community benefits is central to BEC’s vision.

Over the course of the programme up to £4.2m will be paid in community benefit. BEC will pay an initial contribution of up to £100,000 into the community fund soon after the close of the offers. This is to help kick-start the fund. Read more

Getting your money back

Bonds are redeemable in full on the bondholder giving three months’ notice prior to 31 March 2018 (i.e., before 31 December 2017).

Although the bonds are transferable, they will not be listed on a recognised stock exchange due to the considerable costs involved. Instead, BEC has decided to partner with Ethex to manage this market.

Through Ethex, bondholders may be able to buy and sell bonds on a matched bargain basis whereby registered sellers are matched with registered buyers. A modest charge will be applied by Ethex which can be reduced if the Bondholder opens an Ethex Member Account (providing access to other Ethex portfolio services).


How secure is your money?

You will only receive interest if the Society generates sufficient funds and if the directors choose to pay interest in line with their stated policy. Your original investment will not normally change in value, but it can reduce in value if the net asset value of the bonds falls below their original value. 

This investment is not covered by any government compensation scheme.


Keeping track of your investment

The details of your investment are recorded on your bond certificate and by the Society.

The Society will send out a full annual report once a year together with an invitation to the annual general meeting. 

If you subscribe to the Ethex Portfolio Service you can track your investment and follow the performance of the business in your personal portfolio.


Tax considerations

Interest is paid gross without deduction of any tax.


Voting rights

Bond holders will not become members of BEC.


Qualification

This investment is available to persons aged over 18 only. If an applicant is not resident in the UK for tax purposes they should not proceed to invest in the bonds without first contacting Ethex.

Offer Closed

 As of 30th June this offer is closed.

Read More

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https://www.ethex.org.uk/savings--investments_16.html

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