Burnham & Weston Energy CIC’s Annual Report, March 2023, has been published.

This report provides a summary of technical and financial performance for the last financial year to July 2022, with commentary on the following period to the end of December 2022. The third payment of bond interest and a repayment of bond capital was made on 31st March 2023.

Key points from the Annual Report, March 2023, include:

Solar farm performance

During the financial year July 2021 to June 2022 Burnham & Weston Energy’s solar farm generated 9,871 MWh of electricity. This was 4.2% higher than long term predictions. In the commented period July to December 2022, performance was up 11.92% on long-term predictions due to higher irradiance. The full report details projections for the year and discusses fluctuating factors.

Financial performance and bondholder payments

Bond interest was paid in full this year, making a capital repayment of £400,000. Payments were made at the end of March 2023. Full details of financial performance and bondholder payments are detailed in the report.

Community impact

Burnham and Weston CIC were able to fulfil their strategic plans for the year, successfully appointing an Impact and Development Director, as planned, and hosting a local conference to discuss the implications of COP26.

They also supported 11 local action groups through the Burnham & Weston Energy Sunshine Fund in activities ranging from community fridges, repair shops, wildlife restoration and creative environmental expression. Details of all beneficiaries can be found in the report.

Read the full Annual Report here

Burnham & Weston Energy CIC’s solar bond offer raised £4 million in 2018, making it one of the UK’s largest community energy crowdfunding campaigns to date.