Heart of England Community Energy (HECE) acquired three operational solar farms in July 2017, located on the old DEFRA (Department for Environment, Food and Rural Affairs) site just outside Stratford-upon-Avon. It is the largest community energy company by assets under ownership in the UK.
The company has been established to generate renewable electricity and recycle its profits back into the communities within the Heart of England region by supporting local charities and projects with social and environmental impact. Led by a board of directors local to the solar farms, it is projected that the company will donate up to £2.7million to good causes over 25 years, with a pledge to donate £30,000 per year in the initial years. All operations and management are to fulfil the end-goal of maximising this community benefit fund.
HECE’s primary focus is to improve the health of elderly and other vulnerable people suffering from living in cold and damp homes by helping them to access help with reducing energy bills and improving heating and insulation.
Following the closure of HECE’s share offer earlier this year, a bond was launched in March to repay a short-term, flexible loan that was used to acquire the solar farms. The bond is one of a series of offers designed to raise funds from locals and community investors.
The bond is a 4-year investment, with a planned 5%* interest payment each year covered by revenue from the solar farms. The bond is available through Mongoose Crowd: www.mongoosecrowd.co.uk. In addition, Mongoose Crowd is rewarding early investors with additional interest in the first year!
Although bondholders will not have voting rights, they will be invited to attend HECE’s AGM at the end of June 2018.
Want voting rights? Find out how you can become a member by visiting www.hecommunityenergy.org/become-a-member/
* Investing in this Share offer may put your capital at risk. That means that you could lose all of some of your money that you invest. All investments carry a risk and investors should take appropriate advice and make their own risk assessment whilst bearing in mind the social and environmental aspects of this investment opportunity.
Please read the full risk warning on www.mongoosecrowd.co.uk/risk
- Community News
- Environment & Conservation
- Funding & Grants
- South Warwickshire
- Stratford-on-Avon District