Producing renewable wind power for the grid
Originally paid for by REG High Down’s shareholder, all the costs of installing the turbine were refinanced by Abundance investors soon after its commissioning in spring 2014. As with all wind farms developed by Renewable Energy Generation (REG), the 500kW turbine generates clean, renewable electricity which is used to supply nearby towns and villages through the local distribution network.
The project raised a total of £1,500,000 and paid investors regular cash returns from the electricity produced. In late 2015 the whole of the REG wind portfolio was purchased by a BlackRock fund, which redeemed the Debenture early in accordance with the fund’s financing approach. All Debenture holders were repaid in full, with an additional Premium payment, in November 2016.
The turbine is still generating clean electricity to power UK homes and businesses and will continue to do so for many years to come.
Key terms
Investment returns are paid every 6 months over the life of the investment.
The amount returned to investors in each period is linked to the performance of the company in the preceding 6 month period. In each period, the return paid goes first towards repaying an equal instalment of the original capital invested, and anything above that amount in each period will be paid as investment income.
Documents
Payment schedule
This table gives a breakdown of what has been paid back to date on this investment, based on an example investment of £1,000. The return on this investment is linked to the performance of the project during each return period.
| Payment date | Capital repayment | Dividend | Total |
|---|---|---|---|
| 8 September 2014 | £12.50 | £5.31 | £17.81 |
| 11 March 2015 | £25.00 | £15.09 | £40.09 |
| 8 September 2015 | £25.00 | £29.02 | £54.02 |
| 10 March 2016 | £25.00 | £28.50 | £53.50 |
| 8 September 2016 | £25.00 | £24.17 | £49.17 |
| 1 November 2016 | £887.50 | £121.39 | £1,008.89 |
| Total | £1,000.00 | £223.48 | £1,223.48 |