We have now nearly raised overÂ Â£360,000Â in community shares as we close in on the final 2 weeks of our pioneering community energy share offer – This means we are the UKs largest renewable heat cooperative!
In addition we haveÂ Â Â£100,000Â of underwrite options fromÂ Resonance LandÂ & Finance’sÂ Community Share Underwrite Scheme andÂ The Key FundÂ . Both organisationsÂ support social enterprises which have community benefit or environmental aims by matching them withÂ lendersÂ who share their values and want to invest in sustainable, well-planned projects. This means we have Â£460,000 secured for the project.
Our installation contractor has recently completedÂ a value engineering exercise and it is possible to modify the woodchip boiler size,system design and installation programmeÂ to reduce costs whilst maintaining the forecast returns set out in our share prospectus. ThisÂ means that weÂ should be able toÂ proceed with an installation at our main boiler house if we canÂ reach around Â£530,000 by December 11th – so just another Â£70,000 needed!
Please spread the word and should you have any questions or want any more information please get in touch. AgainÂ a huge thank you for all the support we have received, and its thanks toÂ everyone who has and will join usÂ Â thatÂ Â we will be supplying renewable heat to our school next year.