thumbnail of Anesco South West Renewables

Anesco South West Renewables

Return 7.0% IRR
Term 6 years
Total Invested £495k
166  investors
Maturity date 09 Jun 2020
thumbnail of Anesco South West Renewables

A mixture of renewables and energy saving improvements for housing associations and businesses

Anesco South West Renewables raised £495,000 in spring 2016 to refinance the funding for biomass boilers, rooftop solar, LED lighting and roof insulation installed across housing associations and businesses. The portfolio of measures earned revenues through the Renewable Heat Incentive for biomass, the Feed-in Tariff for solar, and payments from energy savings.

The technology was installed at domestic homes and private businesses, giving the people that live and work there the opportunity to lower their bills and benefit from a more sustainable living or working environment.

In 2020, Anesco South West Renewables asked investors to vote on a proposal to allow the company to repay the Debentures earlier than scheduled, including all interest that was due to investors over the remaining term. Investors accepted the proposal and this investment was repaid in full on 9 June 2020.

Key terms

Issuer Anesco South West Renewables
Return 7.0% IRR
Term period 6 years
Start date 1 April 2016
Maturity date 31 March 2022
Capital repayment Regular instalments
Amount raised £495,000.00
Secured or unsecured Unsecured

Documents

Debenture Deed
Download PDF The debenture deed sets out the legal agreement and terms for this investment.

Payment schedule

This table gives a breakdown of what was paid back on this investment, based on an example investment of £1,000.

Payment schedule table
Payment date Capital repayment Interest Total
9 December 2016 £83.33 £21.14 £104.47
9 June 2017 £83.33 £21.14 £104.47
8 December 2017 £83.33 £21.14 £104.47
9 June 2018 £83.33 £21.14 £104.47
9 December 2018 £83.33 £21.14 £104.47
9 June 2019 £95.38 £21.23 £116.61
9 December 2019 £81.33 £20.88 £102.21
9 June 2020 £406.64 £104.44 £511.08
Total £1,000.00 £252.25 £1,252.25

Updates

These updates tell the story of the investment over its life and include information reported to investors by the company or council behind the investment. The updates are provided for informational purposes only and do not constitute an inducement or invitation to invest. Information provided at the time of publishing may no longer be accurate.

The Directors of ASWR and the Anesco Group would like to thank Debenture holders for the approval of the special resolution. The support of the business from the holders over the last 4 years has allowed Anesco to utilise the capital to bring energy efficiency projects to operational status with a focus on both domestic energy efficiency as well as large scale solar and storage projects. The business is now focussed on delivery of further initiatives to assist the UK in its net zero ambitions with services ranging through the entire lifecycle of a project, from Development and Engineering, Procurement and Construction, through to ongoing Operations and Maintenance and Optimisation services.

We would hope that all investors have seen the value in both their renewable investment and Anesco’s role within the marketplace and are pleased with the outcome of their investment.

As of Sunday 17 May, 143 investors holding 79% of the value of the Debentures have voted in favour of the Special Resolution, with 1 investor holding less than 0.01% of the Debentures voting against. The Special Resolution has passed but for those who have not yet voted and would like to have their vote recorded, voting will remain open until 5pm on Monday 25 May.

With the Special Resolution now passed, ASWR expects to repay investors' capital including all interest to the original maturity date on 9 June. This will be paid into investors' Abundance accounts and they will receive a further email confirming the payment.

Details of the proposal and the vote on the Special Resolution have been sent to all investors by email. For the proposal to be accepted investors holding at least 75% of the debentures must vote in favour by 5pm on 25 May.

Please check your email for details of how to vote, or contact Abundance if you have any questions.

Please read the full update here

An investment return from Anesco South West Renewables was paid today.

Anesco South West Renewables paid out £50,596.67 to investors today, its seventh Cash Return.

This project is a mixed technology project, earning revenues from solar PV, residential biomass and energy efficiency measures. The electricity generated from the solar PV systems was 101% of the forecasted amount in this period. There were no significant operational issues reported for this periods.

Anesco South West Renewables paid out an additional £6,008 to investors today as a mandatory redemption payment.

This redemption payment was made after two Housing Associations paid for the removal of two boilers from the portfolio, as they are allowed to do under the contract they have with Anesco South West Renewables. As Anesco will no longer receive revenues from these boilers, the Debenture Deed requires Anesco to make a partial Debenture redemption in proportion to the systems that have been removed. The two boilers represented approximately 2.4% of the total capacity installed under the portfolio.

An investment return from Anesco South West Renewables was paid today.

Anesco South West Renewables paid out £51,716 to investors today, its sixth Cash Return.

This project is a mixed technology project, earning revenues from solar PV, residential biomass and energy efficiency measures. The electricity generated from the solar PV systems was 97.8% of the forecasted amount in this period. There were no significant operational issues reported for this period.

An investment return from Anesco South West Renewables was paid today.

Anesco South West Renewables paid out £51,716 to investors today, its fifth Cash Return.

This project is a mixed technology project, earning revenues from solar PV, residential biomass and energy efficiency measures. The electricity generated from the solar PV systems was 101.2% of the forecasted amount in this period. There were no significant operational issues reported for this period.

An investment return from Anesco South West Renewables was paid today.

Anesco South West Renewables paid out £51,716 to investors today, its fourth Cash Return.

This project is a mixed technology project, earning revenues from solar PV, residential biomass and energy efficiency measures. The electricity generated from the solar PV systems was 95.5% of the forecasted amount in this period. There were no significant operational issues reported for this period.

An investment return from Anesco South West Renewables was paid today.

Anesco South West Renewables paid out £51,716 to investors today, its third Cash Return.

This project is a mixed technology project, earning revenues from solar PV, residential biomass and energy efficiency measures. The electricity generated from the solar PV systems was 107.4% of the forecasted amount in this period. There were no significant operational issues reported for this period.

An investment return from Anesco South West Renewables was paid today.

Anesco South West Renewables paid out £51,716 to investors today, its second Cash Return.

This project is a mixed technology project, earning revenues from solar PV, residential biomass and energy efficiency measures. The electricity generated from the solar PV systems was 103.7% of the forecasted amount in this period. There were no significant operational issues reported for this period.

An investment return from Anesco South West Renewables was paid today.

Anesco South West Renewables paid out £51,716 to investors today, its first Cash Return.

This project is a mixed technology project, earning revenues from solar PV, residential biomass and energy efficiency measures. The electricity generated from the solar PV systems was 105.0% of the forecasted amount in this period. There were no significant operational issues reported for this period.

This investment closed today.

Anesco South West Renewables opened for investment today.