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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more

Read our full Risk Warning

Invest in operational community solar parks

Renewables bond
Empower Community Foundation 2023
IFISA eligible
Minimum Investment £50
Term 15 Years
Interest 6.5% per year (inflation linked)
£2,000,000
Raised
£2,000,000
Target
100%
Offer Closed
0 hour left

Empower Community Foundation

Empower Community Foundation (Empower) was founded in 2011 and is a charity established to accelerate the transition to a sustainable society by focusing on the climate emergency, fuel poverty and supporting community development. Empower manages community-benefit renewable energy projects and distributes income surplus generated in the projects back to communities through grant programmes.


Empower owns two 5MW solar parks, Drove Lane in Salisbury and New Mains in Angus near Aberdeen, which it acquired in 2017. Combined the two solar parks generate the equivalent annual electricity consumption for over 2,600 homes.


Empower has used grant payments to help fund the outreach response in Angus which supported people shielding during Covid 19 lockdowns and has been a long-term funder of a family resilience programme in one of the most deprived areas of Salisbury.

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"We have all seen the impact of high energy prices in the last year and the vulnerability of our energy system to global geopolitical events. A strong renewable energy system can provide an alternative to this. Our structure as a charity means we can reinvest in the local communities to build resilience through this energy transition. This bond offer will give us the long-term funding we need for the remaining life of the solar park and we are delighted to bring in new investors to our community through the Triodos bond offer.”

Alex Grayson, Trustee - Empower Community Foundation

The bond offer

Following on from the successful refinance of the Drove Lane solar park in 2022 Empower is now raising money through this bond offer to refinance the New Mains solar park. This will complete the refinancing of the higher cost loans which were initially secured to fund the Foundation’s acquisition of the solar parks. Both solar parks have been fully accredited by the government’s Feed-in-Tariff scheme which guarantees a fixed price (changing with inflation each year) for the electricity generated by the solar parks for 20 years ending in June 2036.

IFISA eligible

Empower bonds are eligible to be held in a Triodos Innovative Finance ISA (IFISA). As with all ISAs, there are eligibility criteria and you receive interest tax-free. ISA eligibility does not guarantee returns or protect consumers from losing their money.

To invest in Empower bonds through a Triodos IFISA, select the ‘Invest through IFISA’ option. This selection will add to your current year IFISA or will open a new IFISA if you haven’t previously opened one.

Transferring an existing ISA

If you want to invest by transferring an existing ISA to a Triodos IFISA you must first request the transfer. You can do this under ‘Account’ once you’ve become a registered user of the platform. Your ISA transfer must be completed first, before you make an application for bonds.

Key terms

Issuer
Empower Community Foundation (Empower)
Target amount
£2,000,000
Term
15 years, repayable in instalments with the final repayment on 31 May 2038
Minimum investment
£50 
Interest
6.5% gross per year, changing in line with the annual retail price index each year from June 2024. Payable in arrears on 31 May each year (paid net of UK basic rate tax unless held in a Triodos Innovative Finance ISA when interest will be paid gross) with the first payment on 31 May 2024. Payment of interest and repayment of capital are not guaranteed.
Early repayment
Empower has the right to repay the bonds early in part or in full.
Security
The bonds are secured by way of a second ranking charge over the solar park assets behind Triodos Bank’s first ranking charge. Asset security does not mean that capital or interest payments are guaranteed in any way. In the event of any wind-up or liquidation Triodos Bank as senior lender will be repaid first and has full control in a default or enforcement scenario until it is repaid in full.  
Transferability
Bonds are transferable but are not listed on any investment exchange which means that bondholders will have to find a willing buyer and agree a purchase price with them, which in practice may not be easy. Investors should be prepared to hold the bonds for their full 15-year term.
Covenant
A negative pledge regarding other borrowings until the bonds are repaid in full. This prevents Empower from taking on additional debt in that time.
Timetable
The offer will close once £2,000,000 has been raised or the required amount to fully refinance the existing facility has been raised. Bonds are allotted 14 days after close and investors start to accrue interest from that date.
Capital at risk warning
Past performance is not an indication of future performance. Capital is at risk and returns are not guaranteed. Investors should read the offer document in full, including the risks section, before deciding whether to invest.

Offer is closed

Offer Closed

Invest in operational community solar parks

Empower Community Foundation 2023

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"We have all seen the impact of high energy prices in the last year and the vulnerability of our energy system to global geopolitical events. A strong renewable energy system can provide an alternative to this. Our structure as a charity means we can reinvest in the local communities to build resilience through this energy transition. This bond offer will give us the long-term funding we need for the remaining life of the solar park and we are delighted to bring in new investors to our community through the Triodos bond offer.”

Alex Grayson, Trustee - Empower Community Foundation

Empower Community Foundation

Empower Community Foundation (Empower) was founded in 2011 and is a charity established to accelerate the transition to a sustainable society by focusing on the climate emergency, fuel poverty and supporting community development. Empower manages community-benefit renewable energy projects and distributes income surplus generated in the projects back to communities through grant programmes.


Empower owns two 5MW solar parks, Drove Lane in Salisbury and New Mains in Angus near Aberdeen, which it acquired in 2017. Combined the two solar parks generate the equivalent annual electricity consumption for over 2,600 homes.


Empower has used grant payments to help fund the outreach response in Angus which supported people shielding during Covid 19 lockdowns and has been a long-term funder of a family resilience programme in one of the most deprived areas of Salisbury.

The bond offer

Following on from the successful refinance of the Drove Lane solar park in 2022 Empower is now raising money through this bond offer to refinance the New Mains solar park. This will complete the refinancing of the higher cost loans which were initially secured to fund the Foundation’s acquisition of the solar parks. Both solar parks have been fully accredited by the government’s Feed-in-Tariff scheme which guarantees a fixed price (changing with inflation each year) for the electricity generated by the solar parks for 20 years ending in June 2036.

IFISA eligible

Empower bonds are eligible to be held in a Triodos Innovative Finance ISA (IFISA). As with all ISAs, there are eligibility criteria and you receive interest tax-free. ISA eligibility does not guarantee returns or protect consumers from losing their money.
To invest in Empower bonds through a Triodos IFISA, select the ‘Invest through IFISA’ option. This selection will add to your current year IFISA or will open a new IFISA if you haven’t previously opened one.

Transferring an existing ISA

If you want to invest by transferring an existing ISA to a Triodos IFISA you must first request the transfer. You can do this under ‘Account’ once you’ve become a registered user of the platform. Your ISA transfer must be completed first, before you make an application for bonds.

Key terms

Issuer

Empower Community Foundation (Empower)

Target amount

£2,000,000

Term

15 years, repayable in instalments with the final repayment on 31 May 2038

Minimum investment

£50 

Interest

6.5% gross per year, changing in line with the annual retail price index each year from June 2024. Payable in arrears on 31 May each year (paid net of UK basic rate tax unless held in a Triodos Innovative Finance ISA when interest will be paid gross) with the first payment on 31 May 2024. Payment of interest and repayment of capital are not guaranteed.

Early repayment

Empower has the right to repay the bonds early in part or in full.

Security

The bonds are secured by way of a second ranking charge over the solar park assets behind Triodos Bank’s first ranking charge. Asset security does not mean that capital or interest payments are guaranteed in any way. In the event of any wind-up or liquidation Triodos Bank as senior lender will be repaid first and has full control in a default or enforcement scenario until it is repaid in full.  

Transferability

Bonds are transferable but are not listed on any investment exchange which means that bondholders will have to find a willing buyer and agree a purchase price with them, which in practice may not be easy. Investors should be prepared to hold the bonds for their full 15-year term.

Covenant

A negative pledge regarding other borrowings until the bonds are repaid in full. This prevents Empower from taking on additional debt in that time.

Minimum raise

£2,000,000. If less than £2,000,000 is raised, monies will be returned to investors with no accrued interest.

Timetable

The offer will close once £2,000,000 has been raised or the required amount to fully refinance the existing facility has been raised. Bonds are allotted 14 days after close and investors start to accrue interest from that date.

Capital at risk - warning

Past performance is not an indication of future performance. Capital is at risk and returns are not guaranteed. Investors should read the offer document in full, including the risks section, before deciding whether to invest.

Please note that payment of interest and capital is not guaranteed and is dependent on the continued successful operation of Empower Community Foundation (Empower)

Investments offered on this platform are not readily realisable, which means that they may be difficult to sell and you may not get back the full amount invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and your capital is at risk and returns are not guaranteed. Repayment of capital and interest or payment of dividends will be dependent on the success of the organisation's business model and past performance isn’t a reliable indicator of future performance. You should always read the offer document in full before deciding whether or not to invest as it will cover risks specific to an individual investment. You can read more about the general risks associated with making these types of investments. If you are unsure if any of these investments are right for you, you should contact an Independent Financial Adviser.

Triodos Bank UK Ltd. Registered Office: Deanery Road, Bristol, BS1 5AS. Registered in England and Wales No. 11379025. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 817008.