Oakapple One plc
Bond
Regulated investment company arranging renewable energy projects
Abundance connects people with energy project developers, so that everyone can benefit from the growth of UK renewable energy.
Summary
Oakapple One plc (Oakapple One) is a company set up to own and manage the rooftop leases and approximately 435 kWp of solar PV installations on new homes across the UK.
This offer is an opportunity to invest in a portfolio of completed solar installations, backed by an experienced team and to receive a twice-yearly income with an effective rate of return estimated at 7.35-8.60% (after fees) over 20 years.
Social Impact
Since early 2012, OARE has been working with the fourth largest national house builder to install solar panels on the homes they are building across the UK. With the money raised in this offer, Oakapple One will buy approximately 435 kWp of solar PV installations from OARE that have been installed on nine sites. Oakapple One will be the owner of all the installations and the corresponding leases, and will receive the Feed-in Tariffs for the electricity generated.
Most of the systems we buy will have already been completed by the time of launch of this offer and some are being installed during July and August of this year. A few were completed last year including before the tariff reduced to 20 years. Any operating surplus generated after 31 July 2033 when the Debenture has matured will remain within the company.
Since the systems have been installed at different times (meaning they are eligible to receive different levels of Feed-in Tariff) and in different locations, the price Oakapple One pays OARE will be adjusted so that the return across the portfolio is roughly the same. This mirrors an arrangement with the house builder whereby for less economic locations or situations, the house builder makes a contribution towards the cost of installing a PV system, making it possible to achieve a similar level of financial return from a larger number of systems.
OARE are recycling the capital so they can simultaneously share the benefits of solar PV with a wider group and use the money raised to start work on new solar PV projects. As an investor in this project, you will share in the financial benefits from Oakapple One generating electricity over the next 20 years.
We have incurred some legal and accounting costs in order to make this offer of Debentures which will be covered by the amount that we raise (estimated to be less than £10,000). Abundance’s set-up fee is being paid
separately by OARE.
