Our share offer is now live, giving you the chance to become a member of Oldham Community Power.
We are now accepting applications to become members of Oldham Community Power by purchasing shares in our solar installations.
We have installed a total of 220 kW of solar panels on Beever Primary School, Blackshaw Primary School, Mather Street Primary School, Medlock Vale Primary School, Whitegate End Primary School, and NEON Hub, and our new share offer is looking to raise £190,000 to pay back a bridging loan given by Oldham Council to ensure the installations were undertaken in 2016 before the Feed-in-Tariff reduced.
How to become a member
It’s easy to become a member of Oldham Community Power by following these steps:
- Decide how much money you would like to invest
- Choose whether to pay a lump sum or by installments
- Complete the online application form or download and fill in the application form
There are then 3 options to become a member!
- Post the application form to us with a cheque
- Post or email the application form to us and transfer money into the bank account provided
- Post or email the application form and wait for a reference to set up a standing order
Highlights of the share offer
Full information about the share offer can be found in the share offer document.
- We are run by volunteers as a not-for-profit Registered Society.
- Sites where solar panels are installed get cheap electricity from us.
- We have a loan from Oldham Council which helped us pay for the solar panels to secure a higher level of Government incentive.
- Shares purchased will help us pay back the Oldham Council loan for the panels.
- You can pay for shares in instalments for as little as £10 per month
- We aim to pay interest which will average 4% over time.
- Members are encouraged to view this as a 20 year investment as the interest rate will be less if shares are withdrawn early.
- Income is put aside each year so Members’ original funds can be repaid.
- You don’t have to live in Oldham to join but people from Oldham will be given priority.
- Members get a vote at the AGM and can put themselves forward to be elected as a Director.
- The Society’s rules specify that it is run to benefit the community of Oldham.
- While we have done as much as possible to make sure the Society will be successful, the rate of interest is not guaranteed and in a worst-case scenario, funds you put in could be lost.