What does the company do?
SunShare Community Nottingham is a company, set up by solar developer EvoEnergy, which owns and manages a portfolio of solar PV systems installed on schools, Sure Start centres, leisure centres and a library in Nottingham.
Nottingham City Council leases the rooftops of the various buildings to SunShare Community Nottingham plc, which owns the solar PV systems and is responsible for the ongoing maintenance and collects the Feed-in Tariff revenues. In exchange for this, the company has entered into an Energy Supply Agreement with Nottingham City Council whereby the Council commits to pay a certain price for the electricity (linked to RPI) used by the buildings’ occupiers, lowering its overall bill.
The solar PV systems are accredited for the Feed-in Tariff scheme, which pays a fixed amount (rising annually with inflation) for each unit of electricity generated, plus an additional amount for any electricity exported to the grid. The company can choose to opt out of the export Feed-in tariff and instead agree a contract with an energy supplier when wholesale electricity prices are higher.
Why did the company raise money?
The money raised in this investment offer was used to refinance the installation of approximately 572 kWp of rooftop solar PV.
How does the company expect to repay the investment?
SunShare Community Nottingham expects to repay investors from revenues it earns over the life of the investment from the generation and sale of electricity from its solar PV portfolio.
How is the company making an impact?
SunShare Community Nottingham is helping to increase the amount of renewable energy used in the UK’s electricity grid as we transition to a 100% low carbon energy future, as well as lowering energy bills Nottingham City Council.
Key terms
The interest and capital is paid in equal instalments every 6 months over the life of the investment.
Each year, the amount due to investors in terms of interest and capital repayment is split between the two semi-annual payments 70%/30% for the December and June payments respectively. This is due to the increased irradiation (sunlight) over the summer months which means the company has higher revenues over that period.
The company can only make an early repayment of the investment in certain circumstances, such as a change of control of the company (for example, if some or all of the company was sold to a new owner) or a regulatory/tax requirement.
See the Debenture Deed for details of all circumstances in which the option for early repayment may be exercised.Documents
Payment schedule
This table gives a breakdown of what is due to be paid back on this investment, based on an example investment of £1,000.
| Payment date | Capital repayment | Interest | Total |
|---|---|---|---|
| 9 June 2014 | £15.79 | £12.15 | £27.94 |
| 9 December 2014 | £36.84 | £28.36 | £65.20 |
| 9 June 2015 | £15.79 | £12.15 | £27.94 |
| 9 December 2015 | £36.84 | £28.36 | £65.20 |
| 9 June 2016 | £15.79 | £12.15 | £27.94 |
| 9 December 2016 | £36.84 | £28.36 | £65.20 |
| 9 June 2017 | £15.79 | £12.15 | £27.94 |
| 8 December 2017 | £36.84 | £28.36 | £65.20 |
| 8 June 2018 | £15.79 | £12.15 | £27.94 |
| 7 December 2018 | £36.84 | £28.36 | £65.20 |
| 7 June 2019 | £15.79 | £12.15 | £27.94 |
| 9 December 2019 | £96.48 | £32.24 | £128.72 |
| 9 June 2020 | £14.41 | £11.09 | £25.50 |
| 9 December 2020 | £33.63 | £25.89 | £59.52 |
| 9 June 2021 | £14.41 | £11.09 | £25.50 |
| 9 December 2021 | £33.63 | £25.89 | £59.52 |
| 9 June 2022 | £14.41 | £11.09 | £25.50 |
| 9 December 2022 | £33.63 | £25.89 | £59.52 |
| 9 June 2023 | £14.41 | £11.09 | £25.50 |
| 8 December 2023 | £33.63 | £25.89 | £59.52 |
| 7 June 2024 | £14.41 | £11.09 | £25.50 |
| 9 December 2024 | £33.63 | £25.89 | £59.52 |
| 9 June 2025 | £14.41 | £11.09 | £25.50 |
| 9 December 2025 | £33.63 | £25.89 | £59.52 |
| 9 June 2026 | £14.41 | £11.09 | £25.50 |
| 9 December 2026 | £33.63 | £25.89 | £59.52 |
| 9 June 2027 | £14.41 | £11.09 | £25.50 |
| 9 December 2027 | £33.63 | £25.89 | £59.52 |
| 9 June 2028 | £14.41 | £11.09 | £25.50 |
| 8 December 2028 | £33.63 | £25.89 | £59.52 |
| 8 June 2029 | £14.41 | £11.09 | £25.50 |
| 7 December 2029 | £33.63 | £25.89 | £59.52 |
| 7 June 2030 | £14.41 | £11.09 | £25.50 |
| 9 December 2030 | £33.63 | £25.89 | £59.52 |
| 9 June 2031 | £14.41 | £11.09 | £25.50 |
| 9 December 2031 | £33.63 | £25.89 | £59.52 |
| 9 June 2032 | £14.41 | £11.09 | £25.50 |
| 9 December 2032 | £33.69 | £25.89 | £59.58 |
| Total | £1,000.00 | £727.68 | £1,727.68 |