Green Nation News

Inflation Linked Bond Offer for Green Nation Community Solar Farm over 95% full

Mendip Renewables is a community benefit society that owns and operates the 5 MW Whitelake Solar farm in Somerset. The solar farm, which is located on low grade agricultural land used for sheep grazing, has generated 10,000 MWh of renewable energy since it became operational in December 2015.

As a community benefit society, Mendip Renewables will facilitate the distribution of profits to charitable organisations in Somerset through a community benefit fund. The first charity to benefit will be Key4Life which delivers rehabilitation programmes for young offenders and those at risk of going to prison.

Eva Hamilton MBE, Founder and CEO of Key4Life, said: “Since launching Key4Life five years ago in Somerset, it has become one of the most exciting and life-changing charities working with young offenders and those at risk of offending. Our aim is to continue to help to turn around the lives of some of the most disaffected young men across Somerset, while making our communities safer. Our last preventative programme saw 73% of participants in sustained employment and meaningful occupation and this bond will unlock vital funds for a further preventative programme in 2018.”

Jonathan Thompson of Green Nation said: “The solar farm has been one of our most successful to date, and we intend to keep it that way. We’re particularly proud of our role in creating this project that generates thousands of megawatts of clean power every year, and will fund training for young people in Somerset to turn their lives around.”

The bond offer

The money raised through this bond offer will enable Mendip Renewables to repay existing loans which were taken out in 2015 to build the solar farm. The project has been fully accredited by the government’s Feed-in-Tariff scheme which guarantees a fixed price (rising with inflation each year) for the electricity generated by Mendip Renewables for 20 years.

The solar farm is expected to generate 5,000 MWh of electricity a year, which is enough to power the equivalent of around 1,290 homes and it is anticipated that around £1.4 million will be contributed to the community benefit fund over the 25-year life of the project.

The bonds will pay interest of 5% per annum, rising annually with RPI. For example, if inflation in 2018 were 10%, the interest rate in 2019 would be 5.5%. The bonds will have a term of up to 17 years, and the Directors are investigating how to facilitate trading for those who want to exit sooner.

The bond offer is promoted by Triodos, an international ethical bank with considerable experience in renewable energy and community enterprises. Their Bristol based team has developed the offer with Green Nation, who will continue to manage the solar farm after the offer completes.

ISA eligible

Mendip Renewables bonds can be held directly in a Triodos Innovative Finance ISA (IFISA). Individual Savings Accounts (ISAs) offer investors and savers a tax efficient way to save or invest. The IFISA is a type of ISA that allows you to include investments that have been made via crowdfunded offers and you receive interest tax-free. As with all ISAs, there are eligibility requirements for the IFISA. For further information and to invest, please visit: https://www.triodoscrowdfunding.co.uk/invest/mendip-renewables or contact Green Nation at investors@greennation.co.uk

Investment decisions must only be made on the basis of the offer document and not on any information provided in this summary. Investing in the bonds is not the same as depositing money in a bank account as your capital is at risk and you may not get back the full amount that you invested. If you are unsure as to the suitability of the investment, you should contact an independent financial advisor. An investment in the bonds is not covered by the Financial Services Compensation Scheme.

This financial promotion has been issued and approved by the UK division of Triodos Bank NV (incorporated under the laws of the Netherlands with limited liability, registered in England and Wales BR3012). Authorised by the Dutch Central Bank and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request. Registered office: Triodos Bank, Deanery Road, Bristol, BS1 5AS.

Green Nation is recruiting for a Solar Asset Manager

Renewable energy specialist Green Nation is looking for an Asset Manager to help look after its growing portfolio of ground mounted and rooftop solar sites.

Somerset-based Green Nation manages assets across the UK, many of them originally developed in-house. CEO Jonathan Thompson: “our rapid growth means we now need to grow our team, and we can flex the role to fit the right person.” The successful candidate will have two years or more experience of managing solar assets, and be eager to continue learning and improving.

Your role will include performance monitoring, negotiating with and overseeing technical subcontractors, reporting on performance, and working with landlords and other stakeholders.

The successful candidate will need to demonstrate experience of: • Dealing with O&M contractors and subcontractors • Assessing performance information and acting on it • Working under time pressure, managing multiple projects simultaneously with competing priorities • Being great at problem solving and staying calm under pressure • Taking ownership of issues and projects

To that end you will be: • Energetic, intelligent and self-starting. • Confident • Possessed of excellent interpersonal and communication skills • Pro-active, flexible and approachable • Organised, with a hardworking attitude and excellent attention to detail • Willing to take ownership of and suggest improvements to processes and • Knowledgeable about solar technology

Experience and Skills

• University degree, preferably in a science or technical discipline • Good understanding of solar technology • Strong IT skills, including Microsoft Excel and other data analysis • At least two years managing solar sites, preferably longer, either as an asset manager or in O&M

Remuneration

Competitive salary related to level of experience

25 days paid holiday plus bank holidays

You will be based in our rural office located close to Bath and Bristol, and will travel as needed.

Interested? Click here to send us your cv and a short description of how you will help us manage our assets even better.

Green Nation acquires solar installation at the Eden Project

The Eden Project

Specialist renewable energy company Green Nation are please to announce the purchase of Eden Solarfair Ltd, a solar installation owned by the Eden Project in Cornwall.

The installation was commissioned in December 2011 and comprises of solar systems sited on two large workshops at the Eden Project. In 2012, employees of the Eden Project took part in a fundraising, making it the UK’s first employee-owned and invested renewable installation.

The installation contributes approximately 50,000 kWh of renewable and sustainable energy to the operation of Eden Project at no cost, helping to reduce bills, generate carbon-free energy and has now, through the acquisition, provided Eden employees with an attractive financial return.

Eden Solarfair Limited Purchased by Green Nation

CEO and Founder of Green Nation Jonathan Thompson commented:

“As we helped set up the original project during 2011, it feels like coming full circle to now become the owner. We look forward to managing the systems for years to come and to a good working relationship with our landlord, The Eden Project.”

“ We are actively growing our managed portfolio of rooftop and ground mounted systems and would welcome acquiring more opportunities like the Eden Project system or even larger, as well as developing new ventures from scratch.”

For further information contact: hello@greennation.co.uk

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Inflation Linked Bond Offer for Green Nation Community Solar Farm over 95% full

Mendip Renewables Ltd has launched a £1.8 million bond offer which is being promoted by leading ethical bank Triodos. Mendip Renewables is a community benefit society that owns the Whitelake Solar Farm in Somerset, which is managed by Green Nation. The bond offers 5% interest inflation-linked, and can be bought on the Triodos Investment crowdfunding platform https://triodoscrowdfunding.co.uk/. Bonds are eligible to be held in a Triodos Innovative Finance ISA which means that interest can be received tax free. Retained profits generated by the solar farm will be donated by Mendip Renewables to good causes in Somerset, with a focus on supporting young people.

Payment of interest and capital is not guaranteed and is dependent on the continued successful operation of Mendip Renewables.

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Green Nation is recruiting for a Solar Asset Manager

Renewable energy specialist Green Nation is looking for an Asset Manager to help look after its growing portfolio of solar farms and rooftop systems. The successful candidate will have experience of managing solar assets, including performance monitoring, working with technical subcontractors and liaison with landlords. Based near Bath and Bristol.

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Green Nation acquires solar installation at the Eden Project

Green Nation recently negotiated the purchase of a 50,000 kWh roof-top, solar installation from the Eden Project in Cornwall. Green Nation originally helped to set up the original project in 2011 and took ownership of the site recently. We look forward to managing the systems for years to come and to a good working relationship with our landlord, The Eden Project.

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(Let us bring) Power to the People

Most recent news stories about the solar, and renewable energy industry in general, have focused on the Government’s cuts to subsidies to the industry. These are expected to lead to a massive reduction in activity and employment within the sector over the coming months.

Like most in the renewables sector, Green Nation see subsidies as a temporary measure to enable the industry to develop and bring costs down to the point where solar can compete with legacy technologies such as fossil fuels and nuclear. These industries have had several decades at least to develop their business models. The logical and fair way to do this would be to apply a regular and staged reduction in subsidies linked to cost reduction, rather than the sudden and massive change to which we are now subjected.

Another striking feature of the current situation is that it is almost impossible at present for a solar energy producer to sell to neighbouring homes and businesses. We have the anomaly of our new solar farms in Pylle, Somerset, poised to sell electricity for 4p-5p/kilowatt hour, while electricity users in the neighbouring towns and villages pay 11p-13p for the same electricity.

Family at Green Nation Solar Farm

Is that fair for communities?

We say: let’s change the regulations to make it fairer and easier for local power generators such as Green Nation to sell to our neighbours and make subsidies irrelevant overnight.

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(Let us bring) Power to the People

Most recent news stories about the solar, and renewable energy industry in general, have focused on the Government’s cuts to subsidies to the industry. These are expected to lead to a massive reduction in activity and employment within the sector over the coming months.

Read more