en10ergy Limited is a social enterprise (a Registered Society under the FCA Mutuals Registration) set up by the Muswell Hill Sustainability Group and is a member of Community Energy London and Community Energy England. We have two main aims:
- to promote and invest in local renewable energy
- to encourage and facilitate the reduction in carbon emissions and waste by households, businesses and community buildings in the Muswell Hill. Hornsey and Wood Green areas.
en10ergy is like a trading company in that its members are its shareholders and they are not liable for its debts. On the other hand its activities are not carried on for the benefit of the shareholders, but for the benefit of the community. We have over 100 shareholders, mostly based in the locality.
We generate income through electricity sales and the Feed In Tariff from our solar photovoltaic panels on M & S on Muswell Hill Broadway, the Methodist Church in Pages Lane, Woodside School in Wood Green, and Fortismere School in Muswell Hill.
New share offer: Fortismere School project completion, 2019
(Application forms to buy shares, whether as a new shareholder, or to increase your existing investment, are at the end of the prospectus. )
en10ergy is opening a new share offer to raise £9000 for the completion of the Fortismere pv installation project, which was installed last month, and is now generating power for the school. The main cost of this project has been covered by funds raised in our 2017 share offer. That offer was principally for the installation at Woodside High School, but not all was used there as the scale of that project had to be reduced for technical reasons. (In its final form it generates up to 50 kiloWatts). The remainder of the funds has provided the basis for our new 30 kiloWatt installation at Fortismere, and we are now looking to raise a final £9000 to complete the financing of this project.
We would like, therefore, to invite our existing shareholders, as well as staff and parents of Fortismere School, who would like to invest – or increase their existing investment – in this scheme to take advantage of our new share offer. The shares will repay their capital with interest at 3% over 12 years. (This is a similar procedure to the Woodside shares, but the interest offered is 3% rather than 4%*, due to changes in the FiT rate and mains electricity tariffs). We are asking for minimum investments of £250 and maximum of £1000.
Of shareholders who contributed to the Woodside Scheme, many allowed us to retain their investment to redeploy to this new project. We are most grateful for this. For those shareholders, half your investment (for the Woodside panels) will continue to return 4% a year, while the shares allocated to the new scheme will return 3% a year*. We hope that you will still feel that this is a scheme worth supporting, as the school benefits from cheap electricity and saves 16 tonnes of carbon a year.
* For the money invested in the Fortismere scheme the 3% return will be based on the reducing balance of capital each year. Those interested in investing should do so only after reading the Share offer prospectus in full and taking appropriate financial and other advice. Community shares are fully at risk, and you could lose some or all of the money you invest. You have no right to compensation from the Financial Services Compensation Scheme, nor any right of complaint to the Financial Ombudsman Service
New share offer prospectus
The full prospectus for the new share offer to raise £9000 for the Fortismere School installation is available to download here (pdf). Application forms to buy shares, whether as a new shareholder, or to increase your existing investment, are at the end of the prospectus.
New project at Fortismere School
en10ergy and Fortismere School, Muswell Hill, have negotiated a deal to install 105 photovoltaic panels on the roof of the science block on Twyford Avenue. The installation is capable of producing up to 30 kiloWatts at peak performance, and is estimated to contribute about 25,500 kiloWatt hours per year to the schools electricity supply. It will also reduce carbon emissions by approximately 8.9 tonnes a year over the 20-year operating lifetime of the project.
The overall cost of the work to en10ergy will be about £34,000. We have already raised around £20,000 of this through our 2017 share offer which is now being allocated to this project. We have also received very welcome support from the London Community Energy Fund, set up be the Mayor of London, and from Haringey Council, in the preparation of the scheme.
To complete the project, we will shortly invite parents and staff at Fortismere to join the investment, which will broadly pay back capital over 12 years and offer a 3% return on remaining balances. We will offer existing investors the opportunity to provide investment if we still need more.
The panels will be installed over the upcoming Easter holidays by the electrical engineering firm Campbell & Kennedy.
Our solar panel installations
Solar Photovoltaic (PV) panels use the sun’s energy to generate electricity that can be fed back into the Grid.
We installed solar pv panels on the roof of Marks and Spencers on Muswell Hill Broadway in July 2010. Marks and Spencers head office supported this as part of their Plan A programme. This installation consists of 100 solar panels, capable of a peak output of 45 kiloWatts (kWp).
A display in the front window of the shop shows how much electricity is being generated each day and how much has been generated since the panels were installed.
We also installed 36 solar panels on the roof of the Muswell Hill Methodist Church on Pages Lane, generating 20 kWp, and completed in April 2011.
Both projects were funded by the (then) Department of Energy and Climate Change (DECC) through their Low Carbon Communities Challenge – a grant of £165,000 – and Haringey Council also provided £10,000 through a Green Innovation Award. Just under £6,000 was also raised from local residents through a community share offer. These projects generate revenue through the ‘feed-in’ tariff that the Government pays for micro-generated electricity. M&S also pay en10ergy for the electricity it uses in its bakery.
In November 2017 we installed around 150 solar panels on the roof of Woodside School in Wood Green. We are looking to install a similar-sized system at Fortismere School, Muswell Hill. The schools buy the electricity generated on their roofs from en10ergy at an agreed price below the rate charged by commercial generators, which gives them considerable savings. Because both government grants and the FIT rate have been much reduced since our previous installations, these installations have been funded by an offer of Community Shares, subscribed mainly by local people. We have also received welcome support from the London Community Energy Fund, set up by the Mayor of London.
We’re using the revenue from all these projects to fund further carbon emission reduction work in Haringey, in co-operation with Haringey Council.