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Ethical investment platform adds bonus to wind farm project

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05/12/2018
Ethical P2P platform Abundance has added a 2% initial bonus to its onshore energy investment, which currently pays 5% over 16 years.

The group is hoping to raise up to £2.9m in E2Energy, an Arena Capital Partners company, which runs a portfolio of operational medium-scale wind turbines.  The investment pays its 5% return twice yearly over the 16-year term. The capital is repaid over the life of the investment. The extra 2% is paid at maturity. The minimum investment is £5 and is eligible for the Abundance Innovative Finance ISA.

Abundance has now raised £65.3m across 32 green energy projects. Other projects include a commercial scale tidal project and roof top solar panels.

Onshore wind is now the cheapest source of new power. The money for E2Energy will be used to refinance a 1 MW portfolio of eight operational wind turbines located on farms across the North of England. The turbines all receive the Government’s Feed-in-Tariff subsidy, which is closed to new applicants from next April. They will continue to receive the subsidies throughout the 16 year term of the investment. 

E2 Energy is owned by Dublin-based Arena Capital Partners Ltd which has installed or acquired over 70 turbines since it was founded in 2014. 

Bruce Davis, founder and managing director, Abundance, said: “For the first time in two years, we’re delighted to bring our customers a wind energy investment. These are becoming increasingly rare for ordinary investors while the UK government continues to allow growth in onshore wind to stagnate.”

Ian Greer, director of Arena, said: “We focus on medium scale wind turbines in rural areas and predominantly on farmland. Where possible, we sell some of the electricity back at below retail market rates to the farmers so that they can benefit from the electricity produced on their land. The funds used from this offer will be used to acquire other similar wind turbines.”

Abundance has recently hit its own £1.2m crowdfunding target. The group was raising funding to expand its investment team, increase its marketing, and invest in technology.

It raised more than half of its target through a private fundraising via Seedrs for existing investors.

 

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