The Reading Community Energy Society (RCES) Phase 3 Share Offer is now open
Building on the success of the previous two share offers, this new Share Offer seeks to raise £97,000 to refinance the installation of a new Solar PV System, at the newly redeveloped School of Art building at University of Reading.
RCES has previously raised funds in 2016 (£224,962) and again in 2019 (£316,206) through its First and Second Share Offers.
The newly installed Solar PV System at the School of Art has a capacity of 73.8 kWp, making it RCES’s largest installation to date, and has been funded by a short-term loan from Westmill Wind Farm Co-operative. Without this loan, RCES would not have had the funds available to take up the opportunity. This Share Offer seeks to raise the funds necessary to repay this loan.
Members investing through this Offer should receive interest on their investment targeted to be 4% per annum for the first three years, with the first payment of share interest in March 2025, rising to 5% from March 2028.
We very much hope you will consider joining or investing again in the Society.
The Offer will close on 19 February 2024 or when applications have been received from Priority Applicants for the Full Amount, whichever is earlier. The Directors have the right to extend the Offer.
To learn more about the project please visit the Reading Community Energy Society website.
IMPORTANT NOTE: This share offer is a long term investment in shares to deliver environmental and social impacts as well as a financial return. As with any investment there are risks. Your capital is at risk and may not be readily realisable. Returns are projected and variable, depending on the performance of the project, and are not guaranteed. Consider all risks before investing and read the offer document. Reading Community Energy Society is registered under the Co-operative and Community Benefit Societies Act under Registration Number 7156.
