We now have over half a million pounds worth of investment in Southill Community Energy. With less than a week left to go until the share offer IS DUE TO close, what does this mean for the project, our investors and anyone still thinking of investing?
The banks are listening
£500,000 is a key milestone in the equity raise.
We have made significant progress with discussions with banks and underwriters and are edging closer to Heads of Terms with these partners. Hitting 25% of the equity signals to our prospective partners that investors are taking the project seriously. With our draft lease with the relevant parties awaiting signature, Southill Community Energy is in its strongest position since the share offer was launched. A huge thank you to everyone who has got us this far!
The ancient 'chicken and egg' causality dilemma is never truer as when raising equity for community projects. We know a lot of investors take the 'wait and see' approach before committing to invest, especially those considering investing a significant sum. However, the project needs investment to reach tipping point and go 'live'. Reaching 25% is an encouraging milestone for those less confident investors. The Directors have been encouraged by a strong response from investors coming to see us at the recent spate of 'Meet the Director's events. If some of you reading this fall into the 'wait and see' bracket, now's the time to get investing!
That 5% question...
We have previously written about the risk of losing 5% . The risk of losing 5% of your investment if the project doesn't go forward only applies if, wait for it, the project doesn't go forward. We have our debt partners lined up and we have now reached 25% of the equity raise. The draft lease is awaiting signature. We can't offer guarantees here and now, but what we can say with a strong degree of confidence is that this is happening! And every investment makes a huge difference to realising this certainty.
This is your moment
The next seven days really do represent a crucial last leg in the race to get Southill Community Energy off the ground. With a recent UN report indicating that global investment in renewables, has, for the first time, over taken investment in fossil fuels, and with our very own Prime Minister conceding that renewables will form an essential part of the UK energy mix, we truly are on the brink of being part of a global movement to help secure a cleaner, greener and above all sustainable future. The power is in the hands of investors.
If you haven't invested yet, now's the time. every investment, no matter how small, makes a tangible difference to ensuring that community-owned, clean renewable energy becomes a reality in oxfordshire. Are you in?