NICE Launch 2nd Share Offer (press release)

NICE Launch 2nd Share Offer (press release)

On 25th April 2016, Mornington Community Project hosted NICE2 Official Share Offer Launch High demand for low cost electricity from a host of third sector organisations has prompted Northern Ireland’s only solar energy co-operative to launch a second major Community Share offer.  NICE2 Share Offer Document. Almost 40 community organisations have expressed an interest in this ambitious solar energy project that will see their electricity bills slashed in half. Northern Ireland Community Energy (NICE) today launched NICE2, its second community share offer to raise £130,000, which will enable them to install solar panels free of charge for up to ten charitable and community organisations. Last year NICE – Northern Ireland’s only solar energy co-operative – raised an impressive £150,000 with its first community share issue enabling them to install solar panels to benefit 13 organisations. One of those organisations is the Mornington Community project, hosted today’s launch. It is a member of the co-operative and benefited from free solar panels last year. Heather Carey, Board member of the Mornington Community project, said: “As Mornington continues to grow and expand, the benefits of reduced energy costs means the organisation is able to save and continue to invest in the people of the Lower Ormeau, now and for years to come.” NICE Director Karen Arbuckle said the co-operative, which was launched almost exactly a year ago, has made a big impact in the third sector. She added: “Thirty seven organisations have expressed an interest this time round. Because we were able to achieve so much last year it has given us the incentive to go ahead with another project. There is huge...
A Second NICE Solar PV Project & Community Share Offer!!

A Second NICE Solar PV Project & Community Share Offer!!

The “NICE2” project aims to further add up to 10 solar panel installations at between 4 & 12 Kwp each on the roofs of charities and social enterprises in Northern Ireland. At a recent General Meeting, NICE members supported the Board proposal for a second share offer. Initial financial projections have shown the financial viability of the current plan and projected a potential 4% return on members’ shares plus full share capital repayment. Our plan is to issue the share document mid-April 2016 and complete the potential installations in advance of yet again another policy change at the end of September 2016 which will decrease the ability of communities to own and carry out renewables projects. We have attached a pledge form for your attention which will help us measure the level of interest in the new share offer. If you prefer, you can complete the pledge online at https://www.surveymonkey.co.uk/r/DHXBFMN . It would be ideal if you could send us the form back by the 11th April 2016. Please feel also free to pass it to anyone you know who may be interested to support the project and become a member of NICE. Thank...
Another NICE 12kW Installation done @ YMCA, Londonderry

Another NICE 12kW Installation done @ YMCA, Londonderry

main photo: Jo Bird, Co-Operative Alternatives & NICE Member & Peter Caldwell, Manager YMCA Londonderry.   Just before the bank holiday weekend NICE appointed installers arrived at YMCA Londonderry as scheduled and have mounted the 12kW solar pv array!  Wiring and commissioning will take place after the bank hols. This is NICE 6th installation, free of charge to this Northern Ireland 3rd sector community organisation.  As with all our organisation members this is a great facility which has just commenced doing some updating and extension work. This busy centre will undoubtedly utilise the energy their array will generate and their energy cost savings benefits are already being reinvested in their community building! WIN WIN. Thanks again Jo for climbing the scaffolding with Peter for these great aerial photos done again by Jack Farrell, Hive Studios, Derry – much...
NICE bang on £150k target

NICE bang on £150k target

NICE SHARE OFFER NOW CLOSED! We have done it. Through our community share offer NICE surpassed its capital investment target of £150k. The Board of Directors implemented the shares allocation revised policy (rev. @ time of the last share extension) ‘first come first served’. We can now confirm our share offer is officially closed @ a grand total investment of £150,450. We would like to take this opportunity to thank the local community for their interest and support in NICE, N.I.’s 1st solar community energy society and can assure you and our members that this finance has already been put to good work as reported over the last number of weeks. We also wish to thank Community Shares who with the support of the Building Change Trust helped us bring this pioneering community energy society to our local community. For those who missed out on an opportunity to become a NICE member – this is just our first phase project, please do continue to keep an eye on our website and social media pages for news of our future initiatives and possible future share offers! You can also subscribe to receive our E-News a link will be posted to our website in the coming days – please bear with us as we bring our website up-to-date to reflect our developments and achievements....
NICE Share Offer Update

NICE Share Offer Update

We are very pleased to announce that we have raised £127,450 to date – 85% of our target! We thank you all for your contributions. The Board discussed the advantages of extending the share offer and agreed that a few more weeks can help us to reach our target of 150k and fulfil our plan to complete solar installations on 9 community buildings. To date 6 community groups have signed up with NICE and we have received in excess of 30 expressions of interest from other local community groups and social enterprises.   The following are those in this final stage agreement process for solar installation:- the Chinese Welfare Association, Rath Mor Creggan Enterprise Centre in Derry, Ashton Development Centre, YMCA Londonderry in addition to Mediation NI and Whitehead Community Association. The new share offer closing date is on the Tuesday, the 23rd June or the day that we reach the target amount. If you want to help us to spread the news, please do feel free to do so. As members you share ownership of NICE so please do not hesitate to contact us with any comments and ideas and we are happy to meet with any individual or group to talk about NICE and its project. In the coming weeks there are a number of local community events NICE plan to attend to share and talk about what we are doing.  Details of when and where we will be shall be posted on our social media pages and news page of the website.  Please feel free to join us at any of these events so we can put more faces to...
NICE SHARE OFFER EXTENDED

NICE SHARE OFFER EXTENDED

  NI Community Energy (NICE) as at 24th March has raised £78,700 in the 20 days since first launching the share offer! The Board convey their thanks to the local community and those further afield in Europe who have invested in NICE – the first solar community owned co-operative in Northern Ireland. The Board are delighted with the response received so far. However, we are not yet there. NICE still aims to install as many PV solar panels as our target share capital amount will allow so the Board has unanimously decided to extend the share offer deadline to 30th April 2015. More time gives the Board a further opportunity to promote the share offer – since we sensed a growth of interest in NICE, and more time means more opportunities to democratise our project. Extending the deadline also makes good business sense. If NICE raises its £150k capital via shares it will mean less reliance on borrowing from financial institutions that will, of course, result in better returns to the Community Fund and the shareholders, too! The Board also considered the recent Budget 2015 announcement (https://www.gov.uk/government/topical-events/budget-2015) in which the Seed Enterprise Investment Scheme was providentially extended for at least a further 6 months for qualifying organisations. As you know, NICE is seeking advanced approval for SEIS from HMRC and if granted, this means eligible shareholders can claim tax relief of 50% of the value of their shares. As a result of the Budget extension, this relief will also apply for shares subscribed for and issued after the 5th April 2015. For the avoidance of doubt, please note that...