PRLog (Press Release) - Oct. 14, 2013 - LONDON, U.K. -- Today, 5YJ Co-operative Limited announced the opening of its share issuance period. 5YJ Co-operative is based in London and focused on the development of UK solar energy projects to increase the amount of electricity produced by clean energy sources. Members will be provided with inflation protected interest income of at least 5% per year and the co-operative has already raised over £9,700 towards its goal of £150,000.
Share issuance proceeds will be used to finance and install solar energy projects, and revenue from these projects will be allocated to investor members and to the promotion of renewable energy in the UK. The investment is approved by Her Majesty’s Revenue and Customs (HMRC) for the Seed Enterprise Investment Scheme (SEIS) tax benefit, which provides up to 50% tax relief for investments over £500.
With the savings rate at historically low levels, investing in solar energy presents savers with the opportunity to help the environment and earn an attractive, inflation-protected return. The Bank Of England just announced that it is keeping interest rates at 0.5% and it is not expected to increase this before 2016, which makes saving for retirement more challenging and living off savings less affordable. With inflation at 2.7%, savers need higher returns without taking on excess risk.
Co-founder and Director of 5YJ Co-operative Jonathan Harris said, “Given the current state of the economy and growing concerns around climate change, investing in solar energy presents a great opportunity. It provides savers with regular interest payments and long-term income stability, while increasing the production of electricity from clean and sustainable resources.”
Energy Minister Greg Barker announced plans last week to explore how to increase UK solar power eight-fold by 2020. 5YJ Co-operative shares the government’s goal of carbon emission reduction and supports the promotion of solar energy as an effective way of creating a clean and energy efficient future.
Please visit www.5yj.co.uk for more information and to join the co-op.