The story so far…
Phase 1 projects: Summer 2016
Sustainable Energy 24 Ltd (SE24) launched its first share offer in Summer 2016. We raised £80,000 from local investors and completed two roof-top solar photo-voltaic projects: Herne Hill United Church and Herne Hill Methodist Church Hall. SE24 captured the higher levels of Feed-In Tariffs (FITs) which provided the impetus for many Community Energy groups across the country. Excess funds were returned to investors. Annual dividend and capital repayments commenced in 2018 as promised.
Phase 2 projects: July 2017-May 2018
The Phase 2 share offer was much more ambitious. In June 2017 we sought (and raised) over £200,000 to install more than 650 panels across three sites at St Christopher’s Hospice, Dulwich College Lord George Building and Dulwich College Swimming Pool. 42 local investors invested amounts ranging from the minimum £500 to the maximum £20,000.
These Phase 2 installations were completed in 2018 and have been generating clean electricity for four years. Dividend and capital repayments to investors began in 2019.
Phase 3 projects: 2019
We did not make a share offer in 2019 as our only project was grant funded. The 76 panel installation at Walworth Methodist Church was supported by a grant from London Community Energy Fund to cover the research and planning stages; and a grant from the British Airways Carbon Fund to cover the capital costs of the panels and their installation.
Phase 4 projects: 2021
Despite losing the feed-in-tariff, with the help of LCEF grants, larger rooftop solar projects are still viable. We also branched out into LED retrofit. We raised more than £240,000 from local investors to complete our biggest solar PV project at Charter School, North Dulwich and two LED projects at Charter, North Dulwich and at Charles Dickens Primary, Borough.
Excess capital was returned to investors and dividend and capital repayments started as promised in 2022.