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Harborough Solar One

Harborough Solar One Project 2 - 2018 Withdrawable Shares - OFFER CLOSED

Harborough Energy’s purpose is to seek out community energy propositions and enable them to be brought to fruition via community share offers. By purchasing shares in Harborough Solar One Ltd, you will become a members of the Society. Each member shall be entitled to one vote and members are encouraged to participate fully in the Society with an option to join the Board of Directors should they wish.


Investment product type

Withdrawable shares can't be sold on to anyone else, but you can withdraw them by asking the Society to return your investment (subject to terms and conditions - see below). The price of a withdrawable share does not increase, although in some circumstances it can decrease. Read more


Financial return

Harborough Energy is targetting a return of 4% per year.

The primary purpose of Harborough Energy is the successful development of renewable energy resources for the benefit of the community. Harborough Solar One may use its profits to pay interest to members on their shareholdings sufficient to obtain and retain the capital required to carry out its objects. Harborough Solar One aims to pay members a real return in excess of long term Retail Price Index (‘RPI’) and are projecting an annual return of approximately 4% but this could change if RPI changes - as income from the Feed in Tariff (‘FIT’) is linked to RPI for the lifetime of the solar PV FIT Scheme (20 years).


Minimum investment amount

£250*

* Minimum investment for local investors will be £100. Local is defined as in the postcode areas starting with LE or NN.


Maximum investment amount

£20,000


Fees payable to purchase this product

None

Statutory charges

None


Getting your money back

Investors will not be able to withdraw capital during the first three years after installation of this project.  The Board of Directors shall have the final decision on the amounts returned.

Once the intial three years have elapsed members can apply to the Directors to withdraw part or all of their holdings in the Society. Whilst the Directors will seek to honour such requests the final decision on whether to allow a withdrawal will be based on whether that withdrawal will threaten the financial stability of the Society.


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 value of the shares 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 share 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 have an Ethex Portfolio, you can view all of your investments in one place: portfolio service.


Tax considerations

The first £1,000 of interest payments for individuals is tax free. Interest is paid gross without deduction of any tax. You will also receive inheritance tax relief on these shares if they form part of your estate.


Voting rights

This investment entitles you to one vote in the Society, no matter how much or how little you invest.


Qualification

This investment is open to everyone aged 16 years of age or over, subject to the Ethex overseas investor policy.

Offer Closed

 As of the 16th October 2018 this offer is closed

Read more

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

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