First Big60Million Solar Bonds Launched – 7% Fixed Interest Rate
British investors now have the option to harvest 7% returns (gross) from an operating solar farm, thanks to the introduction of the first 5-year Big60Million Solar Bonds issued by a UK solar energy company who is launching the bonds nationally today.
The Big60Million Solar Bonds mark the launch of Big60Million Ltd, which allows people living in the UK to invest as little as £60 and share in the financial, environmental and social benefits of solar power.
Toddington Harper, CEO of Big60Million said: “We’re delighted to be launching Big60Million nationally today. Our objective is to help share the benefits of solar energy with the residents of this country by giving communities and investors an opportunity to invest in local, renewable energy production. We initially restricted the promotion of the first Big60Million Solar Bonds to local residents who live closest to the solar farm, and we are now extending that opportunity nationwide”.
The Big60Million Solar Bonds have been issued by Big60Million’s subsidiary company Willersey Solar Farm Bond plc, who control the assets of Willersey Solar Farm, a 3.8MWp operating solar farm which produces enough energy for over 1,150 houses. The solar farm was connected to the National Grid in March of this year, and has already been accredited to receive a lucrative 20-year inflation-linked government subsidy.
The company is raising £4M from this first issue of Big60Million Solar Bonds and has set the price of each bond at only £60, to make them affordable to as many people as possible. The interest rate is 7% (gross), payable each year for 5-years, with the option for existing bond holders to receive their original investment back in full after that point, or to reinvest in a future bond issue. To provide further comfort to investors, the assets of the fully accredited and operating Willersey Solar farm have also been pledged to bond holders as security.
Toddington Harper added: “This bond issue is a first step in offering all 60 million people nationwide the chance to benefit from investing in clean, solar energy right across the country. The Willersey Farm is our first Big60Million project, and we are excited to be out of the starting gate and delivering the numerous benefits of this project to the local community and investors who have already given the initiative their support.”
In addition to the financial benefits offered by Big60Million Solar Bonds, Willersey Solar Farm has been designed to also provide environmental benefits and is being turned into a nature sanctuary with bee hives, bat boxes bird boxes, and numerous other biodiversity enhancements already in-place. Relationships with partners such as Flowerscapes and the British Beekeepers Association to plant wild flowers that support the local bee population are an example of the company’s commitment in this area. Big60Million are also working closely with the regional community to develop educational programs around solar energy, and ecology, including field trips and environmental initiatives with local schools, as well as low cost organic community growing schemes.
The launch of the Willersey bond follows the recent release of a report from the Intergovernmental Panel on Climate Change on low carbon technologies, which highlighted the leading role of solar power within the renewable energy mix.
For more information on the Big60Million Solar Bonds you can visit the website at www.Big60Million.co.uk or you may wish to call the Bond Manager, Rockfire Capital Limited, on 0844 693 1141.
BBC Radio5 Live Reports on Big60MIllion (50 mins)