SE24 project update – all Phase 2 sites now ready for commissioning

Alan Jones, Chair of SE24, reports on the current installation:

“All SE24 solar arrays at St Christopher’s and Dulwich College are now installed, generating  and earning revenue!

There are still a few minor snagging items that need to be completed before final commissioning and handover, which should be by the end of May.

Once commissioned we will then be able to finalise the costs of this Phase 2 programme.

What will happens then for our investors?

  • It is likely that the costs will be less than the capital we raised in our share offer last summer. So a proportion of the unspent capital will be returned to investors.
  • A first dividend will be paid (comprising capital and interest payments) to Phase 1 investors by the end of June
  • All investors in Phase 1 and Phase 2 will be issued with share certificates.

This Phase 2 project has taken significantly more time than was first expected, but I hope that all investors will understand the challenges we have faced through the harsh winter with limited site access.

These projects have given SE24 a strong platform for the future – providing benefits for site owners, investors and the wider community.

SE24 is already working on plans for the more installations in summer 2018.”

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