In just 10 days, Energise South Downs has successfully raised £302,000 through its first community share offer, giving local residents the opportunity to invest in and co-own a major renewable energy initiative in Hampshire.
The funds will be used to purchase and install solar panels at three rooftop sites. Together, these projects have a combined capacity of 283 kWp and are expected to generate 270,000 kWh of clean electricity annually — saving 54 tonnes of carbon in the first year alone.
A portion of the income from electricity sales will be allocated to a community benefit fund, with the remainder used to repay investors — targeting returns of up to 5.5%. At the end of the investment term, the panels will be transferred to the host organisations, providing them with free solar power for the rest of the panels’ lifespan.
Investments ranged from £50 to £30,000. We are aiming to begin paying returns from autumn 2027, with full capital repayment expected by 2040. All investors have automatically become members of Energise South Downs, giving them a say in key decisions at our AGM — including how the community fund is spent locally.
The share offer launched on 8 July with a public event at Churcher’s College, Petersfield. Read about the event here.
Investments will:
- Directly fund impactful local climate action and help public spaces lower energy bills
- Earn modest, fair returns with social and environmental value
- Be part of a growing democratic energy movement
Energise South Downs will continue developing community-led renewable energy projects, with more opportunities to get involved expected later this year. Join our newsletter to be the first to hear about future share offers.
Thank you to Ethex for managing our share offer.
This share offer carries the Community Shares Standard Mark, awarded to offers that meet national standards of good practice.
This means:
- The offer document is clear and easy to understand
- You’re given all the facts needed to make an informed decision
- Those facts are supported by our business plan and/or annual accounts
- Nothing is deliberately incorrect, misleading, or confusing
You can learn more about community shares, the Standard Mark or the Community Shares Unit here.
About Energise South Downs
As a community benefit society we are registered with the FCA. Our annual accounts, rules and governing documents are available via the FCA Mutuals Register here, registration number 8880.
Membership
Anyone can apply to become a member of Energise South Downs, and have a say in how the organisation is run and how it spends the community benefit fund.
Investors will automatically become members, but if you would like to support ESD without investing you can become a member for just £1. This will entitle you to one vote in the annual AGM and you will be added to our member’s register.
Read more about how to become a member without investing here.
FAQs
How will I see a financial return from this investment?
Community shares differ from company shares in several ways. Instead of dividends, they offer an annual interest payment, set at a target rate by ESD before the share offer is launched.
The rate is designed to be just high enough to attract and retain investment. Unlike traditional shares, community shares do not increase in value – but they can decrease in value if ESD gets into financial difficulties resulting in the directors deciding to write down the value of the shares; there is a risk that you could lose some or all of your investment.
Can I sell my shares if I need to?
Community shares can’t be sold or transferred to someone else, but you can apply to withdraw your investment after year end 2029. A three-month notice period applies; however, in certain cases, such as the death of a member, earlier withdrawals may be considered.
Please note that withdrawals will be subject to ESD’s financial health and availability of funds, and approval is not guaranteed. The board reserve right to suspend withdrawals. In the event of a member’s death, shares may be transferred as part of their estate or redeemed and added to the estate for probate purposes.
How are withdrawal requests prioritised?
If total withdrawal requests exceed available funds in any quarter, they will be prioritised as
follows:
1.Personal hardship, such as: serious illness or bereavement affecting the investor or
immediate family, redundancy or significant loss of income
2.Other major life changes (considered individually)
3.Unfulfilled requests from the previous quarter
4.Length of investment, with priority given to those who have held shares the longest
How do I invest in community shares?
Applications must be made online via Ethex. Please read the full share offer document carefully before deciding to invest.
When will I receive a return on investment, and is it guaranteed?
Share interest payments will be made in Autumn after ESD’s AGM. ESD expects to be able to make the first share interest payments after Year End 2027. The rate of share interest will be recommended by the board and approved at the AGM each year.
When will my shares be issued?
The offer runs from 8th July 2025 to 5pm on 30th Sept 2025, though it may close earlier if fully subscribed. A share certificate will be issued approximately one month after the offer closes.
Will I be taxed on any interest I receive?
A return on investment on community shares is income that you may need to declare to HMRC. No tax will be deducted from it.
Can I gift shares?
It is acceptable to promote the sale of shares as gifts to third parties, subject to the active agreement and eligibility of the gift recipient to become a member of the society. The gift recipient must confirm that they are eligible and agree to become a member before the shares are issued in their name (in the case of a minor, this would be upon the recipient reaching the age required to become a member according to the society’s Rules). Please see The Community Shares Handbook for more information.
What is the minimum amount I can invest?
£50 is the minimum amount you can invest in the share offer.
If you don’t raise all the money, will the money be returned? How long do we have before that decision is made?
Yes, if we don’t reach our minimum target, the money will be returned. The share offer is open until 30th September.
I noticed other share offers on the Ethex site talk about ethically sourced solar panels. I didn’t see this mentioned in your share offer. Is that something you've considered?
Before launching, our board did research into ethical panel sourcing. It’s very difficult to fully trace the supply chain, but we’ve done our due diligence. We used research from Big Solar Co-op and Solar Energy UK. The three quotes we received were for AECO panels, which came out with a ‘green’ rating in terms of ethical sourcing. We also looked at sourcing from Meyer Burger, a European company, but unfortunately, they are no longer trading. Like other community energy groups, we’ve done as much as we can to ensure the panels are ethically sourced and we’re confident in our choice.
There’s an international initiative (supported by Solar Energy UK and GB Energy) that aims to improve supply chain transparency for panels sourced from China. Community Energy England are looking to align with that as part of our membership commitments.
I noticed Big Solar Co-op has used a bond option for their raise. Why did you choose a share offer instead?
We didn’t consider a bond for our £300,000 raise. Big Solar Co-op’s offer is much larger – about £1 million. Bonds often have shorter repayment periods (5–6 years), but as this is our first project, we’re taking a more cautious approach. We expect to start repaying capital around 2029, and a share offer gives us more flexibility.
Graham, ESD Finance Director adds:
Bonds typically require you to repay all capital sooner. With this being our first project, we don’t yet have the track record to confidently commit to that kind of timeline. The organisation you mentioned has a long history and confidence in refinancing in six years. We’re not quite there yet. A share offer gives us the breathing room we need to grow sustainably.
Will there be battery storage included?
We looked into including batteries during our feasibility studies. At the moment, batteries are not financially viable for most community energy projects. However, we hope that as costs come down, we (or the host organisations) may be able to invest in battery storage in future.
What is the balance between institutional and private investment? Will institutions influence decisions?
We want as many local investors as possible. That’s why we’re holding events like this. We’ve set a £30,000 limit per individual investor, and institutions are capped at £100,000.
Peter Carver ESD Finance Director adds:
Each member gets one vote, regardless of the size of their investment. So even if institutions take a larger financial share, they don’t hold more voting power than local residents.
What happens to the ownership of the solar panels at the end of the term? Specifically, what does that mean for Broadway Park residents?
Yes, after about 20 years, the ownership of the panels transfers to Britannia Reeves. However, because they are a low energy user, they’ll still need to sell surplus energy, and we hope the strong relationship they have with Broadway Park will continue. We’ve discussed this with Broadway Park, and we expect the existing arrangement to carry on.
I was an investor in Ripple Energy, which unfortunately went under. What protections are in place to avoid a similar scenario?
Great question. We’ve undertaken full due diligence, including external review, and the share offer carries the Community Shares Standard Mark. That said, as with all investments, capital is at risk. We believe our financial model is sound.
Follow-up Q: Are the three projects set up as separate entities like Ripple did?
A: Yes. Each of the three projects is structured as its own financial entity. If one were to fail for any reason, the others would not be affected.
Additional comment:
Ripple brought a lot of people into community energy, and their co-operatives are still operational or under construction. Unlike Ripple, which was a private company seeking rapid growth through venture capital, we are a community benefit society focused on steady, community-led growth.