Letter to Braydon Manor Farm investors 12/3/15

Dear Investors,

I am writing to you to keep you up-to-date with your investment and the Braydon Manor Solar Farm project.

When the fund raise closed we had taken £2,913,801. This means that when built Braydon Manor Farm will be one of the largest community owned solar farms in England. The community energy movement is growing fast and we hope and expect projects like ours will soon be normal in every county in England.

We had planning permission, lease and grid connection agreements before we started to fund raise. However as the government has slightly changed the rules controlling the size of community projects we realised we could apply to modify the existing planning permission, for 7MW, in order to generate more electricity. This would allow us to sell the extra capacity and we are in negotiation with a family trust based in Bath. This will reduce our costs as they will share our grid connection.

Last week we were officially told that a new layout to 8.75Mw is “a non-material amendment” in planning terms and therefore we can go ahead with selling the extra capacity. There will be more panels in the field but other than that there will be very little difference to the way it will look.

We will be issuing our share certificates to our investors later in March once the EPC (Engineering Procurement and Construction) contracts have been signed and the bank have finalised their due diligence process.

Those members who invested before 12 December will receive share certificate dated 31 December and will earn interest from that date.  Investments received after that date will receive interest from the date their certificate is signed and issued, which should be later this month.

The project is complex but once contracts have been signed and the loan finalized can begin construction which will take about eight weeks. We hope to start selling energy in July or August.

You can find up-to-date information about Braydon Manor and our other Projects by visiting our website wwce.org

On behalf of the directors and myself we would like to thank you again for your interest and investment.

With best wishes

Lesley Bennett
Chair WWCE

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