Invest in community solar at Hampstead School now!
Power Up North London is a community business that delivers renewable energy and energy saving projects. We have launched our share offer to raise £46,000 for the installation of 48 kWp of solar panels at Hampstead School, Westbere Road, London, NW2 3RT.
The offer opened on December 16th and will close on 31st January 2020, or whenever the target is reached, whichever comes first. Please act fast if you would like to buy shares as PUNL’s previous share offer closed within two weeks.
Hampstead School is large comprehensive school in the London Borough of Camden, England. The school building is one of the oldest in the borough. It has about 1,300 students between the ages of 11 and 19 attending the Lower School (Year 7 through to Year 11) and the Sixth Form College (Year 12 and Year 13).
The minimum investment is £250 and the maximum investment is £4,500. Investors will receive 2% interest a year and their capital back over a 20-year period.
The installation of solar panels will benefit the school through lower consumption of fossil fuel energy, reduced carbon emissions and lower energy bills. We estimate annual carbon savings of 11 tonnes which is equivalent to the carbon sequestered by 4.5 acres of new forest.
PUNL will enter into a 20-year roof licence with Camden Council and the School, and will receive income from the sale of the solar electricity to the school and from the Feed-in Tariff. The school will receive discounted electricity during the life of the licence and will benefit from free renewable electricity thereafter. Any surplus generated after paying for running costs such as insurance, maintenance and investor distributions, will be put towards a PUNL community energy fund that can be used to invest in other community renewables initiatives. This will help to build resilience of the local community in tackling climate change.
The School can be an important flag-bearer for community renewable energy and we hope that this installation will inspire many other community buildings and schools across the Borough to follow suit. The project will create a community asset that can be used to educate members of the school community on the benefits of renewable energy and to start a wider discussion about local ownership of energy generation. We will have an electronic display board to show how much solar electricity has been generated and used by the School.
Hampstead School was founded as a secondary modern in 1961 and incorporated Harben Secondary Modern School in Netherwood Street, Kilburn, before becoming a comprehensive. The old school’s Latin motto Is est emendo; tendo quod macula iocus notitia (to correct faults, give direction and impart knowledge) can still be seen on the face of the main building.
We invite you to invest in this important project with environmental, social and financial benefits for the Club and the local community.
The full share offer document can be found here and the full link for the share offer is here: https://members.powerupnorthlondon.org/crowdfunding/school.aspx