Who are Bath & West Community Energy?
Bath & West Community Energy (BWCE) is a long-established, highly experienced Community Benefit Society (CBS), building local clean energy projects, empowering communities and keeping the benefits in the area.
Based in the historic city of Bath, they are one of the oldest and most respected community energy groups in the UK, with over 1000 members. Their work extends well beyond the city into the rural areas of North-East Somerset and West Wiltshire.
So far they have built 14.49MW of renewable energy projects - equivalent to the needs of 5,000 homes. Their community ownership model ensures the benefits of that clean energy stay local. That includes panels on school rooftops, reducing their energy bills, as well as standalone solar arrays. BWCE have raised £5 million to date across 4 bond offers and have a 100% record in paying interest and meeting all bond redemptions in full and on time.
Surpluses are reinvested in the community through the independent BWCE Fund. £430,000 has been invested into the fund to date, which donates to local projects cutting carbon, reducing energy use and tackling fuel poverty, ensuring the benefits contribute to the common good for the long term.
What is a Community Benefit Society?
As a CBS, BWCE is radically different from an ordinary company: they must prioritise benefit to the wider community rather than their own members or shareholders and an asset lock protects this ethos.
Their aims, defined in their Rules, are to “carry out any business for the benefit of the community that involves promoting, facilitating, developing and running renewable and low carbon energy and energy efficiency projects in Bath and the surrounding areas”.
The business is not-for-profit and democratically run on the basis of one-member one-vote. You can find out more about how the society works on their website.
How are they building greener places?
BWCE has a pipeline of nearly 1.2MW of rooftop solar projects that are ready, or near-ready, for construction - including more schools, health and leisure buildings and businesses.
They are now looking to raise up to £1 million to help fund the construction of the near-term rooftop solar pipeline, which they aim to complete in 2025, and provide additional capital to support BWCE's operation.
So investors' money will be put to work immediately growing renewable energy capacity in the area, reducing bills for schools and community buildings, and tackling the climate crisis.
This investment has a rolling term
The bond investment offers 5.5% interest a year, with a minimum investment term of five years.
After the minimum term is reached you have a choice: you can keep your money invested - continuing to earn 5.5% interest and support BWCE's work - or, once a year you will have the option to redeem your investment and receive your invested capital back. BWCE can also choose to repay the investment after the minimum term is reached, or each year thereafter.
Key terms
Interest is paid annually on 31 July. Interest is earned from the day of investment with the first interest payment on 31 July 2025. Capital is repaid in a lump sum after the minimum 5 year term, subject to BWCE or the bondholder giving 6 months' notice.
After 5 years (with the earliest date being 31 July 2030), a bondholder can request repayment of their bond by giving BWCE 6 months' notice. The bond will otherwise continue on the same interest rate.
BWCE will contact borrowers in advance of 31 July 2030 and provide instructions for bondholders to optionally request repayment. Each following year bondholders will again be given the option to request repayment, giving at least 6 months notice.
After the minimum 5 year term (with the earliest date being 31 July 2030), BWCE can choose to repay the bond in full subject to giving bondholders 6 months' notice.
Documents
Payment schedule
This table gives a breakdown of what is due to be paid back on this investment, based on an example investment of £1,000. This schedule shows the payments due over the minimum 5 year term period, assuming either the bondholder or BWCE provide 6 months' notice for repayment on 31 July 2030. The bond will otherwise continue at the same interest rate.
| Payment date | Capital repayment | Interest | Total |
|---|---|---|---|
| 31 July 2026 | £0.00 | £55.00 | £55.00 |
| 31 July 2027 | £0.00 | £55.00 | £55.00 |
| 31 July 2028 | £0.00 | £55.00 | £55.00 |
| 31 July 2029 | £0.00 | £55.00 | £55.00 |
| 31 July 2030 | £1,000.00 | £55.00 | £1,055.00 |
| Total | £1,000.00 | £275.00 | £1,275.00 |