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.
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.