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Community share offer launch – 4/11/14

Chase Community Solar Ltd

., (CCS) has been working with Cannock Chase Council on the development of a scheme which they expect will see the installation of solar photovoltaic (electricity) panels on between 150 and 400 Council bungalows across the district in the spring of next year. We believe this to be the  first scheme in the UK funded by a community share offer which funds solar panels on the roofs of council houses. CCS have issued an invitation to the launch event of  this scheme which takes place at 7.30pm on Tuesday, 4 November at the Civic Suite, Cannock Chase, Council House, Beecroft Road, WS11 1BG. Speakers at the event will include Cllr Frank Allen, Cannock Chase Council Cabinet Portfolio Leader for Housing; Mike Kinghan MBE, Chair of Chase Community Solar, Robert Rabinowitz, CEO of Pure Leapfrog, a national body advising on the project; and Mark Davis, Chief Executive of building firm J. Tomlinson, who will be carrying out the solar installations. The share offer document will be available to download on Wednesday, 5 November, together with information on further events from www.chasesolar.org.uk. CCS Ltd has been set up by the board of SSCE to provide a bespoke vehicle for this ambitious project. Like SSCE, CCS is a Community Benefit Society and plans to fund the installation of the panels through the issue of shares. Investors are being offered a forecast annual return of 7% for the 20-year lifetime of the scheme, with a minimum investment of just £100. Advance assurance for Seed Enterprise Investment Scheme and Enterprise Investment Scheme has been received from HMRC which means that tax relief may also be available.  

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