We raise money via investment from the wider community. By pooling resources it’s possible to raise large amounts of cash – other UK energy co-ops have raised as much as £4.5m for community energy projects.
We do this by selling shares in our legal entity, Brighton Energy Limited, a Community Benefit Society (CBS). A CBS is radically different from a normal company – each member in the society has one vote, for example (regardless of the amount invested) and the maximum investment is £20,000.
In December 2010 we raised start up capital via an early-stage investment offer. Once we have agreed contractual terms with our sites we will run a second share offer to raise the cash required for the main installations.
Subsequently we aim to pay those that invest some interest (as a reward for putting up their cash), as well as providing money for other low-carbon community projects.
