Energise Sussex Coast and East Sussex College are delighted announce the launch of the 1066 community energy offer.
This is the first community energy investment offer in Hastings. Energise Sussex Coast, in partnership with Brighton Energy Coop, are raising £180,000 through community shares to fund 250 kilowatts of solar panels (roughly 1066 panels as it happens) on East Sussex College. The college will save roughly £4250 per year on its energy bills.
The offer is open to anyone but we are especially keen to invite as many local residents, local businesses and community organisations as possible to invest in the future of the college and Hastings. With the transformation of the energy market underway we hope that excess power generated during weekends and holiday periods can be sold to local residents in the Ore Valley at affordable prices.
By investing in 1066 community energy you are supporting the transition to low carbon energy and a fairer energy future and will receive a reasonable return on your investment.
If you would like to invest please visit http://brightonenergy.org.uk/product/join
The investment offer
If you buy shares you would become a member and shareholder in Brighton Energy Coop (BEC), a Community Benefit Society (CBS) set up in 2010. To date BEC have raised £ 1.9 million and installed 29 solar arrays (and growing). A CBS is radically different from a normal company – each member in the society has one vote for example regardless of the amount invested. BEC aim to provide new members a return on investment of 5% a year, as they have for all their existing members, starting 12-18 months after each project is installed. 5% of capital is also available for repayment each year.
The minimum shareholding is £300 and the maximum is £100,000. It is important to read BEC’s Share invitation document in full http://brightonenergy.org.uk/view-share-invitation