The story so far…
Phase 1 projects: Summer 2016
Sustainable Energy 24 Ltd (SE24) launched its first share offer in Summer 2016. We raised £80,000 from local investors and completed two of the three roof-top solar photo-voltaic projects that were in the portfolio at that time. For the two completed projects – at Herne Hill United Church and Herne Hill Methodist Church Hall – SE24 managed to capture the higher levels of Feed-In Tariffs (FITs) that provided the impetus for creating many Community Energy businesses across the country. The funding that wasn’t needed in relation to the third project was returned to investors. As promised repayments have now begun to those who invested in Phase 1.
Phase 2 projects: July 2017-May 2018
The Phase 2 share offer was much more ambitious. In June 2017 we sought (and raised) over £200,000 to install more than 650 panels across three sites at St Christopher’s Hospice, Dulwich College Lord George Building and Dulwich College Swimming Pool. 42 local investors invested amounts ranging from the minimum £500 to the maximum £20,000.
These Phase 2 installations were completed in 2018 and are now generating clean electricity. Share certificates have been issued to investors and surplus capital returned. Repayments began in 2019.
Phase 3 projects: 2019
We did not make a share offer in 2019 as our only project was grant funded. The 76 panel installation at Walworth Methodist Church was supported by a grant from London Community Energy Fund to cover the research and planning stages; and a grant from the British Airways Carbon Fund to cover the capital costs of the panels and their installation.
And just announced…
Phase 4 projects: 2021
Despite losing the feed-in-tariff, with the help of LCEF grants, larger rooftop solar projects are still viable. We are also branching out into LED retrofit. We are progressing a solar PV project at Charter School, North Dulwich and two LED projects at Charter, North Dulwich and at Charles Dickens Primary, Borough.
We launched our 2021 share offer in June 2021. You can find our more here. This share offer was fully funded so is now closed and all three projects can continue to installation over the summer and autumn months.