Energise Barnsley

Energise Barnsley Bond Offer

£1,000 minimum

This bond offer is for £1.2 million that will enable Energise Barnsley to take into community ownership up to 2MW of residential and community rooftop solar assets on Barnsley Metropolitan Council owned property. The project is the largest roof top solar joint local authority and community energy project in the UK.


Term of Bond

This Bond offer has a 5 year term, however, Bondholders will have the opportunity to refinance their investment at the end of year 5. This will be at the discretion of society Directors.


Minimum raise for offer to proceed

There is no minimum raise. If Energise Barnsley is unable to raise enough capital to complete the purchase of the solar assets it has contingencies in place to replace a potential shortfall through a £2m loan from Ignite, and may use additional senior debt finance if required.


Financial return

5% gross interest rate per year – payable annually in arrears from October 2017.

Payment of interest and capital is not guaranteed and is dependent on the continued success of Energise Barnsley.


Social return

To date there has already been over £10,496 collective savings from tenants on electricity.


Minimum investment amount

£1000

£100 if a Barnsley resident (postcode S70 through to S75)


Maximum investment amount

£500,000


Fees payable to purchase this product

Basic account Member account
None None

Statutory charges

None


Getting your money back

The bonds are designed to allow bondholders a choice of when to redeem their bonds and to take account of EB’s plans for re-financing the project in 5 years’ time. The bonds will have a 5-year initial term, ending in October 2021. If bondholders wish to redeem their bond at that point, they must give EB at least 3 months’ notice of their intention by completing and returning the repayment notice on the reverse of their bond certificate. 

However, EB does have the option to redeem the bonds early, in whole or in part, at any point. If this occurs during the 5-year initial term of the bonds, EB must give bondholders at least 3 months’ notice.

Bonds become transferable from the end of year 2. 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?

These bonds are not 'savings bonds' and so are not covered by the Government’s Financial Services Compensation Scheme. These bonds are more risky than savings, and you should consider these risks carefully before investing.

Please note that despite the measures taken to minimise the investment risk neither the coupon rate of interest nor the return of the investment can be guaranteed.


Keeping track of your investment

The Society will produce an annual report and accounts, available to all bondholders and members.

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

Generally, payments of interest on the bonds will be made with deduction of, or withholding on account, of United Kingdom income tax at the basic rate of income tax (currently 20%). 


Qualification

This investment is available to persons aged over 18 only.

Offer Closed

 As of the 10th of August this offer is closed.

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