Friends in high places...Southill in the news (and what the PM said)

Southill Solar's in the news again! David Cameron has had his say, the Guardian and the Times have both tipped us as a good investment and now Friends of the Earth are having their say, too!

David Cameron on Southill Solar

Mr. Cameron said:

The Southill Solar project is a great example of people’s enthusiasm for this technology. As costs come down even further, I look forward to solar competing against other technologies and continuing to be an important part of the UK energy mix.

Friends of the Earth

It's not too often you see our Prime Minister and Friends of the Earth united in their approval, but Southill Solar seems to have done it!

In a blog article about renewables projects, sent to their thousands of followers, Friends of the Earth said:

This will be one of the last chances to earn a fair return from a community solar farm following recent changes in government support.

The Times (money section)

In their article about attractive renewables opportunities, the Times reminded us that:

For a minimum investment of £250 you can buy shares in a solar farm in David Cameron’s Oxfordshire constituency. Your investment in Southill Solar, a community-owned solar farm near Charlbury, has a target return of 5 per cent over its 25-year life.

The Guardian (money section)

The Guardian chose to lead on Southill Solar in a story about the good returns that renewables projects can generate, reminding us that:

Across the country there are growing numbers of community-owned and run businesses, including many green energy schemes, where those who are supportive of the cause can invest and hopefully earn a bank-beating return.

There's still time to join us (if you hurry)

Southill Solar has raised half a million pounds in investment from people like you. There's still time to hop on board - share offer closes 8 April, so act now!

Need more information?

Contact us at any time or call the impartial team at Ethex on 01865 403 304.

THANKS HALF A MILLION!

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?

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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!

Investment-gets-investment

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?

 

"The impacts of climate change": Geoff

Geoff, from Finstock, has invested in Southill Solar for several reasons. He says he likes that the project is “local and community-owned” and that “profits will benefit local communities.”

However, Geoff is primarily concerned about climate change and what we can do to mitigate its effects.

Climate change worries

He says, “I work in the Department of Geography and Environmental Science at Reading University, with close links to Department of Meteorology. They have been in the vanguard of [climate change] research for many years.”

He’s in an excellent position to understand the environmental benefits that Southill Solar will bring.

5% a year in interest payments + your capital back

Shares in Southill Community Energy will pay 5% in interest a year plus your capital back - take a look at the financial return.

Share offer closes 8 April - still time to act!

Buy Southill Community Energy shares online through Ethex - they are the ethical investment company that handles the share offer. Download our share offer document.

Need more information?

Contact us at any time or call the impartial team at Ethex on 01865 403 304.

"5% a year and a positive social impact": Sue

Sue's invested in Southill Solar. She says, "there aren't many opportunities to make 5% a year on a sum of money AND a positive social impact." Here's why you should invest.

Positive social impact

Southill Community Energy, which is setting up Southill Solar, is a community benefit company which aims to fund local low-carbon projects.

5% a year in interest payments + your capital back

Shares in Southill Community Energy will pay 5% in interest a year plus your capital back - take a look at the financial return.

Share offer closes 8 April - so act now!

Need more information?

Contact us at any time or call the impartial team at Ethex on 01865 403 304.

INVESTOR STORIES| DAN

In which local Charlbury resident speaks of how taking control locally has the capacity to bring about change at a global level.

 

I’m in because I think that community energy is the future - local, renewable and democratic. 

It’s so exciting that communities across the country and the globe are taking control of their own energy generation. Renewable schemes like this one can be a major part of the solution to volatile international energy markets.

And when our so-called leaders say one thing about our responsibility to act on climate change and yet are incapable of putting their money where their mouth is, the obvious answer is to take the power into our own hands.

“The obvious answer is take the power
into our own hands”

It’s true that Southill has been one of the lucky ones to get the higher rate of feed-in tariff before it was slashed. But the fact is that, with the technology advancing and the costs coming down fast, renewables will soon become a no-brainer - with or without government support.

Some people think that these kind of local schemes are reserved for those with lots of disposable income and plenty of time to invest. But the community benefit society is a great leveller. For the minimum investment of £250 you can have the same say in Southill as someone who has invested the maximum £100,000.

As members of Southill Community Benefit Society we will collectively run our own totally clean, green power plant. The rewards will ripple out: from the personal interest payments, to the money available for the community, to the educational potential, to the biodiversity the site will create, to the carbon not emitted.

“To take action locally that, alongside other similar schemes, has a direct effect globally”

To taking action locally that, alongside other similar schemes, has a direct effect globally... Imagine that? It’s a big deal.

Dan lives in charlbury and is a director at new internationalist publications ltd.