This will be the last EIS eligible fund raising round before EIS (30% tax refund for those eligible) is removed by the government at the end of November. The deadline for the investment is 24 November, but hurry as 40% of the money was raised in the first 12 hours the fund was open!
The two projects for which funding is being sought are:
1. Batheaston Mill Hydro plant
The scheme will convert an existing non-functioning water wheel into one which produces electricity. The new water wheel will generate renewable energy production of around 87,500 kWh per year. This wheel will supply sufficient electricity to meet the equivalent annual demand from 25 typical households and offset the production of 46 tonnes of CO2 per year.
This site was the first project considered by BWCE when it was formed in 2010 but has only just come to fruition.
We previously wrote a brief article on the history of the site on our website here.
2. Stowey House Farm Solar Array
The second site included in this funding round will be a new 250kW ground mounted solar PV system consisting of 1,040 solar panels arranged on a metal mounting system in 5 rows 104 metres long. The system will generate a total of 241,000 KWh of electricity per annum. This is enough to supply the equivalent annual electricity demand from over 70 typical households. Stowey House Farm is 12 miles to the west of Bath near Clutton.
BWCE is also indicating it will very soon be raising 6% bonds to fund a new 4 MW solar array and is aiming to become a local electricity supplier sometime in 2016.
More information on the share issue is available on the Ethex website: https://www.ethex.org.uk/BWCE