Liverpool Community Renewables

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Latest update on investment raised: £57000

On our board meeting with all new directors last night (21st April 2015) we counted up a total of £57000. This is tremendous news, and we are confident that we will reach our target of £80000. If you want to be part of our community energy initiative, there is till time to join us before 15th May 2015. All details are available from our Share Offer Document.

Some key information from the document:

  • Minimum investment is £100,
  • IRR 4.6%,
  • Members will be able to claim tax relief under SEIS

We’ve won a UCEF grant!

Yes, a few months ago we applied for grant money from the Urban Community Energy Fund (UCEF), and we have been selected! This will be £13000, a great success. This money will take us a considerable way to develop our planned sites, and is very welcome. Remember that you can also become a member of Liverpool Community Renewables and invest in our pioneer share offer.

Since the launch of UCEF there have been 18 successful applicants. If you are part of a urban community energy group, it is worth checking out if your group might be eligible and then apply. Details on eligibility and also how to apply can be found over at the website of the Centre for Sustainable Energy. We were told that CSE are planning to publish who won this award and also  put the locations of these projects on a map. We will keep you posted.

Closing date for Pioneer Share Offer extended to 15th May

We have now extended the closing date for our pioneer share offer to 15th May, so there is still time to join Liverpool Community Renewables and invest in your community. It is now clear that the outgoing government decided to keep tax incentives like SEIS and EIS applicable for community energy generation, but not for investors into commercial schemes. More details can be found in my previous blog. Not only will you enable LCR to develop solar PV installations on community buildings in Liverpool for the benefit of the users of these buildings, but we also think that a membership and investment with us is an attractive proposition with an IRR (internal rate of return) of 4.6%, compared to current savings rates. On top of this return investor-members will be able to apply for SEIS tax relief. The minimum investment is £100.

Please print and read the offer document and if you decide to join the pioneers of community energy for Liverpool, fill in the included application form and send it to us by 15th of May.

Even if you’re undecided but might consider joining Liverpool Community Renewables in the future, please join our mailing list.

A further £4500 has taken us closer to the target of £80000

As of today we have managed to attract a total investment of £29000 from our members! This is very encouraging, but we have to reach our target of £80000 to be able plan and develop the projects we have lined up. There is still time, so come and join our growing group of pioneers into community owned energy generation. All the details and an application form are available from our Pioneer Share Offer document. If you still have questions or comments, you can also contact us directly.

Budget 2015

Back in the Autumn Statement of the Chancellor of the Exchequer it was announced that tax relief for investors in renewable energy would be phased out with the end of the tax year.

This was a great concern for community energy organisations such as ours, who rely on attracting investment from our new members. Obviously a loss of a tax incentive would reduce the attractiveness of becoming a member of a community energy group and invest in renewable community owned energy generation.

But the latest Budget of 2015 has some positive news for us:

2.77 Venture capital schemes: renewable energy – As announced at Autumn Statement
2014, companies benefiting substantially from subsidies for the generation of renewable energy
will be excluded from also benefiting from EIS, SEIS and VCTs with effect from 6 April 2015,
with the exception of community energy generation undertaken by qualifying organisations
which will in future become eligible for the Social Investment Tax Relief (SITR). The government
will allow a transition period of 6 months following state aid clearance for the expansion of SITR
before eligibility for EIS, SEIS and VCT is withdrawn. (Finance Bill 2015) (y)

This means that investors will still be able to claim tax relief under SEIS (Seed Enterprise Investment Scheme), but only through investing and becoming part of qualifying community energy generation. In the future SEIS and EIS will be replaced with SITR (Social Investment Tax Relief)

And there is no better time than now to join our growing membership and invest in renewables through our pioneer share offer.

The Pioneer Share Offer is live!

We are really excited about presenting our Pioneer Share Offer to the public: We want to raise £80,000 through attracting new members/investors to our Society. We hope that this will be the start of community owned energy in Liverpool, and you can be part of it. Please download the Share Offer Document to get all the details. At the end of the document you will also find an “Application Form for the Purchase of Shares in Liverpool Community Renewables”.

To be kept updated, please join our mailing list using the contact form.

Pioneer Share Offer

Liverpool Community Renewables is preparing a Pioneer Share Offer. The aim is to seed-fund a number of Solar PV projects which are in the planning stage. Early investors into LCR might be eligible for income tax relief under SEIS1. We aniticpate to have a prospectus ready for early March 2015. If you are interested in investing into our co-operative as a member or just to express an interest, please contact us or join the mailing list.

[1] Eligibility can not be guaranteed and has to be ascertained with your tax advisor.