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BNRG Hoo Solar

Powering homes with renewable electricity and supporting British wildlife

Return 6.30%-6.7% IRR (variable)
Term 24 yrs & 5 mths
Total Invested £385k
272  investors
Maturity date 22 Jul 2037
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What does the company do?

BNRG Hoo Solar is part of the BNRG Renewables group, an established solar PV developer with an extensive portfolio of projects completed across the UK, Europe, the US and Australia.

BNRG Hoo Solar owns and manages a 249kWp solar PV installation situated at Hoo Farm in Kent. This site, completed in 2012, generates green energy from ground mounted solar panels which goes into the UK grid and helps power our homes and businesses. The solar system is accredited for the Feed-in Tariff scheme, which pays a fixed amount (rising annually with inflation) for each unit of electricity generated, plus an additional amount for the electricity exported to the grid. The company can choose to opt out of the export Feed-in tariff and instead agree a contract with an energy supplier when wholesale electricity prices are higher.

Why did the company raise money?

This was the BNRG group’s first investment on Abundance. The money raised by this investment in 2013 refinanced the funding that was used to install the solar PV system situated at Hoo Farm.

How does the company expect to repay the investment?

BNRG Hoo Solar expects to repay investors from the operational revenues it earns over the life of the investment from the solar system.

How is the company making an impact?

BNRG Hoo Solar is helping to increase the amount of renewable energy used in the UK’s electricity grid as we transition to a 100% low carbon energy future.

249kWp solar PV installation situated at Hoo Farm in Kent
249kWp solar PV installation situated at Hoo Farm in Kent

Key terms

Issuer BNRG Hoo Solar
Return 6.30% - 6.7% IRR (variable, based on performance)
Term period 24 years and 5 months
Start date 27 February 2013
Maturity date 22 July 2037
Capital repayment Regular instalments
Amount raised £385,000.00
Return structure

Investment returns are paid every 6 months over the life of the investment (the first period was only 5 months).

The amount returned to investors in each period is linked to the performance of the company in the preceding 6 month period. In each period, the return paid goes first towards repaying an equal instalment of the original capital invested, and anything above that amount in each period will be paid as investment income.
Secured or unsecured Unsecured
Early repayment options

The company can only make an early repayment of the investment in certain circumstances, such as a change of control of the company (for example, if some or all of the company was sold to a new owner) or a regulatory/tax requirement.

See the Debenture Deed for details of all circumstances in which the option for early repayment may be exercised.

Documents

Debenture Deed
Download PDF The debenture deed sets out the legal agreement and terms for this investment.

Payment schedule

This table gives a breakdown of what has been paid back to date on this investment, based on an example investment of £1,000. The return on this investment is linked to the performance of the project during each return period.

Payment schedule table
Payment date Capital repayment Dividend Total
30 September 2013 £16.18 £14.91 £31.09
2 April 2014 £20.50 £4.29 £24.79
30 September 2014 £20.50 £24.52 £45.02
2 April 2015 £20.50 £2.69 £23.19
30 September 2015 £20.50 £31.71 £52.21
1 April 2016 £20.50 £0.31 £20.81
30 September 2016 £20.50 £25.80 £46.30
31 March 2017 £20.50 £4.61 £25.11
29 September 2017 £20.50 £30.08 £50.58
29 March 2018 £20.50 £3.49 £23.99
1 October 2018 £20.50 £36.80 £57.30
2 April 2019 £20.50 £0.54 £21.04
1 October 2019 £20.50 £20.30 £40.80
1 April 2020 £20.50 £5.72 £26.22
1 October 2020 £20.50 £40.48 £60.98
6 April 2021 £20.50 £0.00 £20.50
1 October 2021 £20.50 £18.48 £38.98
1 April 2022 £20.50 £3.04 £23.54
30 September 2022 £20.50 £18.32 £38.82
31 March 2023 £20.50 £20.15 £40.65
29 September 2023 £20.50 £85.97 £106.47
2 April 2024 £20.50 £10.74 £31.24
1 October 2024 £20.50 £62.25 £82.75
2 April 2025 Variable Variable Variable
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31 March 2028 Variable Variable Variable
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