Wonderful response to latest share offer

With just over a day to go until the close our share offer, the applications to date total £62,500 – a truly phenomenal response!   We can accept up to £127,000 in new investment, so if you are considering investing we are still able to accept more investments.  Don’t forget the deadline for applications is midnight on Monday 23rd November. You can download the share offer and application forms here Please be sure to read the share offer document carefully to ensure that you are fully aware of the risks associated with investing in WOCORE.    

New share offer launched

November share offer As you’ll recall, we launched a share offer this Spring to raise funds to enable us to buy back the solar PV array at Matthew Arnold School.  Thanks to the support of our Members and local community, £143,000 of the £280,000 target was raised in investment. We were able to match this with Resonance short-term loan financing and so buy the installation back from the County Council. We are now looking to raise the funds to replace the short term loan financing. Why now? The Government has just announced that it is withdrawing EIS tax relief from community energy projects on 30th November 2015.  As a result this will be a short and sharp offer closing on Monday 23rd November at midnight. So do please alert all your friends and contacts to this last chance for an EIS-able community renewable energy project! You can read more about the changes to EIS and its impact on investors in this article by Ethex. 

Matthew Arnold project update

The roofing work on the Main Block is all now complete and the PVs are back up and running to join back in with the Science Block array that has been working throughout. We have generated nearly 20,000kWh of solar power since we bought the installation on 1st August.  In total, the project costs have come in at less than we forecast.

Re-roofing underway

As part of the agreement with the school and Oxfordshire County Council to buy back the solar array at Matthew Arnold school, WOCoRe is contributing to the cost of replacing the 50-year-old roof on the main block.  We have appointed James Dunn Roofing and Darke & Taylor to carry out the roofing work, and their teams are working hard to complete the re-roofing during the school holidays.  While the roof is being replaced, the panels situated on this roof will not be generating electricity.  The two teams are working in parallel, with the panels being reinstated at one end while the new tiles are still being laid at the other to reduce reduced generation time. The new roof should last for up to another 50 years, well beyond the life of this project.  

2015 Spring Share Offer

Thank you to everyone who invested in our Spring 2015 Share offer. The share offer is now closed. We anticipate we will be seeking additional investment later this Spring. If you would like to be the first to hear about the the next opportunity to invest in WOCORE please let us know via the contact us form. We have applied for Enterprise Investment Scheme (EIS) Advance Assurance from HMRC. EIS tax relief is being withdrawn from community energy in April 2015. If we are approved, this will be one of the last opportunities for investors to benefit from EIS tax relief when supporting community energy.

Matthew Arnold solar array purchased

We are delighted to announce that the purchase of the solar PV array at Matthew Arnold School was successfully completed on 1st August. The timetabling of our purchase was scheduled to co-incide with the change of status of the school to an Academy on 1st June. There was a slight delay to the timetable for the  change to the academy status for the school, so our purchase date was also put back. We’d like to thank Oxfordshire County Council for giving us the opportunity to buy back the roof and Matthew Arnold School for their support of the process. Thanks also to our Members, whose new investment in WOCoRe has made the purchase possible.