ALTERNATE ENERGIES SOLAR BOND TWO - TRANCHE THREE
Tranche 3 closes 30 Apr 2017 17:00. Bond closing date 30 Jun 2017 (or earlier).
Asset Backed YES
Estimated loan to value 69%
Capital is at risk and returns are not guaranteed. This is a 6 month bond and is not readily realisable.
This is an opportunity to invest in a portfolio of solar photovoltaic (PV) systems that has been accredited by OFGEM and receives Feed-in-Tariffs (FiTs) for each kWh generated.
The borrower, Alternate Energies Limited, is a business with consistent revenues*, 95% of which are derived from payments under the government-backed Feed-in-Tariff (FiT) scheme.
These FiTs are set for 25 years from accreditation date and there are over 19 years remaining for all the PV systems. The solar energy systems in Colchester were connected to the national grid in late 2011 and early 2012.
The PV systems, on the residential buildings, are owned by Colchester Borough Council and are expected to generate up to 983,740 kwh per annum.** Please note there is no guarantee these projections or forecasts will be achieved.
Andrew Newman, Director of Armstrong Energy and Alternate Energies says,
"We are happy to be a part of this opportunity and invite you to explore the Offer Document so that you can fully understand first-hand how solar energy can potentially offer investors an attractive return".
*Please note, past performance is not an indicator of future performance.
**Based on Alternate Energies’ 12 months’ performance to 30 December 2016
Alternate Energies Limited and its 100% owned subsidiary, Wind Power Generation Limited (“Wind Power Generation”), are UK Limited companies that have funded the construction and operation of over 300 PV systems located on residential properties in Colchester, Essex. Alternate Energies and Wind Power Generation are administrated and managed by the experienced team at Armstrong Energies. They have appointed Breyer Group to install and maintain the photovoltaic (PV) systems.
Armstrong Energy Limited has developed over £185 million* worth of solar projects across the UK to date. Their total portfolio now exceeds 200MW* and generates over 40,000** homes-worth of electricity each year.
Armstrong Energy Limited takes an active role in securing, developing and operating sites on behalf of all their investors. Downing has partnered with them on more than £90 million of solar developments in the last five years.
*Source: Armstrong Energy, as at 16 September 2016
**Based on average UK home consumption in 2014 according to the Department of Energy & Climate Change, 30 July 2015