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Warrington 2025

Helping fund an innovative solar farm.

Interest rate 1.2% a year

Term 5 years

Total Invested £1m

504 investors

Maturity date 15 Nov 2025

About Warrington Borough Council

Warrington Borough Council is the statutory corporation and unitary local authority for the governance and provision of local government services to Warrington. Warrington is located between Manchester and Liverpool in the North West of England covering an area of around 70 square miles.

The council has an ambitious target to become the UK’s first carbon neutral town, and has a strong track record as one of the leading councils in the UK for taking climate action. Warrington launched its Climate Change Strategy back in 2007 — a whole year before the UK’s National Strategy was launched — and declared a Climate Emergency in 2019.

How did the council use the money raised?

The money raised from this investment helped fund an innovative new 20MW ground mounted solar farm, with integrated 40MW battery storage at a site in Cirencester, Gloucestershire which started operations in 2021.

This formed part of Warrington’s portfolio of energy investments — both in its area and around the UK. The aim of its investment strategy is to both generate green energy to tackle the climate crisis, and generate an income for the council to fund core services.

Warrington Council wants all the electricity used in the borough to be renewable

Key terms

BorrowerWarrington Borough Council

Use of funds

Help fund the development of a 20MW ground mounted solar system with the addition of 40MW of battery storage located in Cirencester.

Interest rate1.20% a yearThis is the interest rate paid by the Local Authority to lenders and does not include the cost of fees paid to Abundance in its role as Arranger and Agent.

Term period5 years after end of 'Initial interest period'

Maturity date15 November 2025

Capital repaymentRegular instalments

Offer open date25 August 2020

Offer close date12 November 2020

Minimum borrowing amount£50,000.00

Maximum borrowing amount£1,000,000.00

Initial interest periodThis will start on the date the lender makes their investment and ends on 15 November 2020.

Interest periodsFrom 16 November to 15 May and 16 May to 15 November each year, starting from 16 November 2020.

Return structure10 semi-annual returns of Interest and Capital on the last day of each Interest Period with the last one, on the Maturity Date.

Early repayment optionsThe local authority can repay early on any payment date. An early repayment fee equal to 1 months’ Interest will apply.

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 is due to be paid back on this investment, based on an example investment of £1,000.

Payment schedule table
Payment date	Capital repayment	Interest	Total
17 May 2021	£97.33	£5.95	£103.28
15 November 2021	£97.91	£5.46	£103.37
16 May 2022	£98.50	£4.78	£103.28
15 November 2022	£99.09	£4.27	£103.36
15 May 2023	£99.69	£3.61	£103.30
15 November 2023	£100.28	£3.06	£103.34
15 May 2024	£100.89	£2.43	£103.32
15 November 2024	£101.49	£1.85	£103.34
15 May 2025	£102.10	£1.21	£103.31
17 November 2025	£102.72	£0.62	£103.34
Total	£1,000.00	£34.53	£1,034.53