Lambeth Community Solar is our newest project, that will install 145.31 kW of solar panels on two Lambeth Schools.
1 – Elmgreen School, SE27 9BX – 62.15 kW
2 – The Norwood School, SE19 3NY – 86.16 kW
We are selling shares to buy the solar panels to be installed in the schools. By investing you become a shareholder (member) of our company (community benefit society) and will become a co-owner of these solar panels.
Offer opens: 14/09/2019
Offer closes: 22/11/2019
Minimum investment: £100
Community member minimum investment: £50 (to be eligible for the Community Member investment amount you must live in Lambeth AND either be aged 24 and under OR receiving benefits)
Company Name: Lambeth Community Solar Limited
Company Type: Community Benefit Society
Registration Number:
7797Registered under Co-operative and Community Benefit Societies Act 2014
145 kWp Solar
This will generate 122,000kWh of electricity, enough to power 48 average homes annually. This project has signed a contract with the schools to sell the energy from the panels at a 10% discount than what they currently pay to their mains suppliers. We estimate this will create total savings for the schools of around £1,400 a year.
£35,000 Community Funds
In addition to the energy bill savings being for the schools, the project has been designed so that 35% of profits generated will be retained for community benefit in the format of a community fund. We estimate a total of £35,000 will be available for community benefit over the lifetime of the project. Members will have the opportunity to vote where these funds are spent.
14 Internships
In 2018, Repowering London delivered our paid Youth Training Programme for young people in the borough. Our paid Youth Training programme is designed to empower young people aged 16 to 19 by giving them the practical skills and training to thrive in the green economy. We aim to run further Youth Training Programmes in 2020. By investing you are continuously supporting this important work.
31 tonnes CO2 avoided annually
Fight Climate Change. Energy is responsible for 60% of global CO2 emissions, reducing our carbon footprint is of the upmost importance. This project will displace fossil fuel energy and help lead the way to creating our shared zero-carbon future.
What would you have to invest in LCS to:
£100 - offset the CO2 impact of drinking 20 bottles of wine every year
£250 - offset the CO2 impact of drinking 250 lattes every year
£500 - offset the CO2 impact of drinking 2.5 pints of foreign lager every week
£1,000 - offset the annual CO2 impact of flying in a return short haul flight (London-Rome) in economy
£2,700 - offset the annual CO2 impact of driving an electric car for 7000 miles
£3,800 - offset the CO2 impact of the electricity consumption in an average UK household
£5,600 - offset the CO2 impact of a vegetarian diet
£10,000 - offset the annual CO2 impact of flying in a return long haul flight (London to Los Angeles) in economy
£20,870 - offset the annual CO2 impact of the average UK citizen
£2,131,230 - How much Mark Zuckerberg would have to invest to offset his annual CO2 impact
 |
Dave Fuller Dave is Repowering’s project manager who has overseen the share offer and installation of the Vauxhall Energy and North Kensington Community Energy projects. |
|
|
 |
Afsheen Kabir Rashid MBE Afsheen is a co-founder of Repowering and it’s co-CEO. Afsheen is Chair of Community Energy England and remains influential in both local and national community energy decision making. |
|
|
 |
Felix Wight Felix is Repowering’s Technical Director and leads on Repowering’s technical development and emerging business models. Prior to joining Repowering, Felix was Head of Development at Community Energy Scotland and has experience of developing over 20MW of community owned generation capacity. |
|
|
 |
Rebecca Payne Becky has lived in Brixton since 1985. She has worked for over 25 years in the heritage world. She has been a policy and grant officer with extensive experience in administration, building contracts, engaging with local communities and giving advice on sustaining historic buildings. |
|
|
 |
André Pinho André has worked together with Repowering’s directors since its inception, bringing his deep understanding of the energy & technology to the board. He is a founding member and director of Brixton Energy Solar Projects and has been instrumental in defining the financial governance of the projects. André has recently digitised these processes into software called CoEnergy that you will use to crowdfund and give you visibility on your investment. |
Here is how our financial model works:
Our model for Lambeth Community Solar assumes we will pay a small proportion of capital back as well as interest every year. This means you will get your capital back sooner to invest in other things but it will also mean we will likely have little flexibility to allow investor to exit before the 20 years. Here is an example of what to expect if you invest £1000:
Document Name |
|
Download |
Share Offer |
|
|
Society Rules |
|
|
|
|
|
The Directors believe that Lambeth Community Solar is a comparatively secure investment as our Power Purchase Agreement is tied into our lease with both schools, meaning the buildings have committed to purchasing the electricity generated by LCS. In addition almost 25% of its income streams are from the Feed-in Tariff, a programme implemented and guaranteed by the UK Government for 20 years. Nonetheless as with any project there are inevitably a range of risks which you should consider described below:
Financial
● If the project is not installed by the end of March 2020 we will not be able to secure the pre-registered Feed-in Tariff assumed in the financial model. In which case we will return all funds to our investors.
● The shares in Lambeth Community Solar are illiquid (that can only be withdrawn, not sold or exchanged externally for cash) and investors are expected to view this as a 20-year investment. The capital is expected to be returned to investors over time (estimated at 5% a year), with the intention to repay capital invested over the 20-year period rather than a lump sum at the end. The full withdrawal of capital may be requested but the Board of Directors may not feel in a position to allow withdrawal if and when required due to small reserves accrued, so you may not be able to have your money back when you request it.
● If the deployment caps for solar PV systems of 10-50 kWp are met before the proposed installation in October half-term we will not proceed with the project and return all funds to our investors.
● Working with the Schools we have scheduled the solar panel installation during the October half-term 2019. We will need to pay our installers Ecolution a 25% upfront payment to facilitate the install and are in the process of seeking a short-term bridging loan from Brixton Energy Solar 1, Solar 2 and Solar 3 to help us manage cash flow. The short-term loan is at 0% interest and is a low risk to the project as we will raise the required funds through the share offer to repay the loan.
● The capital costs are based on calculations carried out before this share issue. Any subsequent increase in capital costs will have to be met by monies raised in this share offer and any other sources of funding (gifts and loans).
● Inflation may be higher or lower than the forecast of 2.5% used in the financial model. Lower inflation could reduce income from the Feed-in Tariff and export tariff which are index-linked.
● The price of electricity can go down as well as up and can affect income earned through export and sale of electricity. This may result in reduced project income and member returns.
● The energy demand for the schools may be lower than projected and can result in lower sales of energy to the site and lower project income and member returns.
● The value of the shares may be written down so you may not receive all your money back.
Operations
● Operational costs for insurance, administration, service and maintenance may increase over the life of the project by more than the amounts we have assumed.
● We are the process of securing a signed lease and Power Purchase Agreement with Norwood school and we might not secure the terms we have assumed for the financial model. This may result in reduced project income and member returns. The probability of this happening is low as the school have approved the template agreements for the roof lease and purchase of electricity from Lambeth Community Solar.
Policy
● Changes in renewable energy policy and legislation, especially to the value of the Feed-in-Tariff, could affect the project (nonetheless to-date, changes in Feed-in-Tariff legislation have only applied to new installations).
● Legislative changes to the roles and functions of the Financial Conduct Authority or to those of other regulatory bodies may change the way in which Lambeth Community Solar Ltd is regulated.
Technical
● The amount of electricity produced may not meet the target, for example due to unexpected weather patterns or underperformance of the solar panels.
● There may be interruptions to the generation of electricity caused by, for example, mechanical failure that could increase maintenance costs and impact revenue income.
● There may be interruptions to electricity generation because of temporary roof repairs or maintenance works required by the schools. This may result in reduced Member returns. However, we have selected roofs that are in a good condition and are working with both schools to minimise the impact on the project.
● There may be damage to the site that interrupts electricity generation.
● Although the installation will be fully insured for risks such as accidental and malicious damage, standard exclusions will apply including ‘Acts of God’.
 | Anonymous 11-12-2019 | |
 | Anonymous 10-12-2019 | |
 | Elena 21-11-2019 | |
 | Anonymous 21-11-2019 | |
 | Anonymous 21-11-2019 | |
 | Duncan 21-11-2019 | |
 | Duncan 21-11-2019 | |
 | Anonymous 21-11-2019 | |
 | Anonymous 21-11-2019 | |
 | Oliver 21-11-2019 | |
 | Anonymous 14-11-2019 | |
 | Anonymous 14-11-2019 | |
 | Anonymous 14-11-2019 | |
 | Anonymous 14-11-2019 | |
 | Monika 14-11-2019 | |
 | Anonymous 14-11-2019 | |
 | Anonymous 14-11-2019 | |
 | Anonymous 14-11-2019 | |
 | Anonymous 13-11-2019 | |
 | Anonymous 13-11-2019 | |
 | David 01-11-2019 | |
 | Anonymous 01-11-2019 | |
 | Alex 31-10-2019 | |
 | Anonymous 31-10-2019 | |
 | Anonymous 30-10-2019 | |
 | Anna 30-10-2019 | |
 | Anna 30-10-2019 | |
 | Anonymous 29-10-2019 | |
 | Anonymous 29-10-2019 | |
 | Amanda 29-10-2019 | |
 | Anonymous 18-10-2019 | |
 | Anonymous 18-10-2019 | |
 | Anonymous 18-10-2019 | |
 | James 18-10-2019 | |
 | Anonymous 17-10-2019 | |
 | Anonymous 17-10-2019 | |
 | Anonymous 16-10-2019 | |
 | Rachel 15-10-2019 | |
 | Anonymous 12-10-2019 | |
 | Anonymous 12-10-2019 | |
 | Anonymous 21-11-2019 | |
 | Ben 20-11-2019 | |
 | Nicholas 20-11-2019 | |
 | Anuja 20-11-2019 | |
 | Anonymous 20-11-2019 | |
 | Anonymous 20-11-2019 | |
 | Nisha 20-11-2019 | |
 | Rezina 20-11-2019 | |
 | Anonymous 19-11-2019 | |
 | Alexander 19-11-2019 | |
 | Claire 13-11-2019 | |
 | Grace 12-11-2019 | |
 | Anonymous 12-11-2019 | |
 | Claire 11-11-2019 | |
 | Anonymous 10-11-2019 | |
 | Anonymous 10-11-2019 | |
 | Edward 10-11-2019 | |
 | Anonymous 10-11-2019 | |
 | Anonymous 09-11-2019 | |
 | Anonymous 09-11-2019 | |
 | Ruth 28-10-2019 | |
 | Anonymous 27-10-2019 | |
 | Mark 26-10-2019 | |
 | kate 25-10-2019 | |
 | David 25-10-2019 | |
 | Anonymous 25-10-2019 | |
 | Anonymous 25-10-2019 | |
 | Alex 25-10-2019 | |
 | Jacqueline 25-10-2019 | |
 | Timothy 25-10-2019 | |
 | Anonymous 12-10-2019 | |
 | Anonymous 12-10-2019 | |
 | Liz 11-10-2019 | |
 | Anonymous 10-10-2019 | |
 | Kate 10-10-2019 | |
 | Tim 09-10-2019 | |
 | Anonymous 09-10-2019 | |
 | Anonymous 08-10-2019 | |
 | Anonymous 07-10-2019 | |
 | Anonymous 07-10-2019 | |
 | Anonymous 19-11-2019 | |
 | Torla 18-11-2019 | |
 | Anonymous 18-11-2019 | |
 | Anonymous 18-11-2019 | |
 | Anonymous 18-11-2019 | |
 | Anonymous 18-11-2019 | |
 | Anonymous 18-11-2019 | |
 | Anonymous 18-11-2019 | |
 | Anonymous 18-11-2019 | |
 | Anonymous 18-11-2019 | |
 | Julia 09-11-2019 | |
 | Anonymous 09-11-2019 | |
 | Helen 07-11-2019 | |
 | Alex 06-11-2019 | |
 | Anonymous 06-11-2019 | |
 | Anonymous 06-11-2019 | |
 | Sarah 06-11-2019 | |
 | Anonymous 05-11-2019 | |
 | Anthony Francis 05-11-2019 | |
 | Anonymous 04-11-2019 | |
 | Anonymous 25-10-2019 | |
 | Anonymous 24-10-2019 | |
 | Anonymous 24-10-2019 | |
 | Martin 23-10-2019 | |
 | Anonymous 22-10-2019 | |
 | Anonymous 22-10-2019 | |
 | Anonymous 22-10-2019 | |
 | Anonymous 22-10-2019 | |
 | Anonymous 22-10-2019 | |
 | ajai 22-10-2019 | |
 | James 07-10-2019 | |
 | Anonymous 06-10-2019 | |
 | Anonymous 06-10-2019 | |
 | Anonymous 06-10-2019 | |
 | Anonymous 05-10-2019 | |
 | Isobel 05-10-2019 | |
 | Anonymous 05-10-2019 | |
 | Anonymous 05-10-2019 | |
 | Anonymous 05-10-2019 | |
 | Anonymous 05-10-2019 | |
 | Anonymous 18-11-2019 | |
 | Mark 17-11-2019 | |
 | Nicholas 17-11-2019 | |
 | Anonymous 17-11-2019 | |
 | Anonymous 17-11-2019 | |
 | Odilon 15-11-2019 | |
 | Clare 15-11-2019 | |
 | Anonymous 15-11-2019 | |
 | Odilon 15-11-2019 | |
 | Fiona 15-11-2019 | |
 | Thomas 03-11-2019 | |
 | Anonymous 03-11-2019 | |
 | Mary 03-11-2019 | |
 | Gail 03-11-2019 | |
 | Anonymous 03-11-2019 | |
 | Philippa 03-11-2019 | |
 | Robin 02-11-2019 | |
 | Anonymous 02-11-2019 | |
 | Anonymous 02-11-2019 | |
 | Kevin 01-11-2019 | |
 | Thomas 22-10-2019 | |
 | Anonymous 20-10-2019 | |
 | Anonymous 20-10-2019 | |
 | Anonymous 19-10-2019 | |
 | Anonymous 19-10-2019 | |
 | Anonymous 19-10-2019 | |
 | PATRICK 18-10-2019 | |
 | Anonymous 18-10-2019 | |
 | Anonymous 18-10-2019 | |
 | Anonymous 18-10-2019 | |
 | Anonymous 04-10-2019 | |
 | Anonymous 03-10-2019 | |
 | Anonymous 03-10-2019 | |
 | Anonymous 01-10-2019 | |
 | Bindi 01-10-2019 | |
 | Anonymous 01-10-2019 | |
 | Millie 01-10-2019 | |
 | Jemima 30-09-2019 | |
 | Zoe 30-09-2019 | |
 | Brian 30-09-2019 | |
FAQNot for this project, any UK resident can invest in the project, however support local ownership and this project will benefit the local community so it would make sense if you actively want to support this community.
The directors consider that this project is lower risk than many long-term investments because it is underpinned by the Feed-in Tariff (FIT), which is a Government-sponsored programme that guarantees payment for the energy generated for 20 years. Nevertheless, there are a number of risks you should consider. Please refer to the “Risk Factors” section of the Share Offer document for more information. In addition, you should seek independent advice if you have additional questions.
Yes, we project we will be able to pay you an interest annually and the initial share value when you sell your shares.
Shares in an Community Benefit Society are different than shares you may have in public or other private companies. By law, you are not able to sell or otherwise transfer your investment and the project has been designed to encourage long-term investment. However, a provision for withdrawal of shares is available through application to the society’s board of directors (on 180 days' notice and only after the first three years of the project). The society will set aside a portion of money annually to allow for withdrawal and buyback of shares throughout the life and for payback at the end of the project’s life.
If you do not sell your shares before the end of the project life we will pay remaining shareholders
This is software that Repowering is using to manage our investments.
We can take your payment as a bank transfer, direct debit or card payment.