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: 7797
Registered under Co-operative and Community Benefit Societies Act 2014

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●    The shares in Lambeth Community Solar are illiquid (that can only be withdrawn, not sold or exchanged externally for cash) and investors are expected to view this as a 20-year investment.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’.