[Scr-members2] Letter to investors in Sheffield Renewables 2016 Share Offer

[Jean Tinsley]

Dear investor,


As you will know the Sheffield Renewables 2016 Share offer was very 
successful, raising enough money for two new solar PV schemes.  The 
first of which was successfully completed earlier this year at Lembas 
Wholefood wholesalers.


The second scheme was due for installation later this month on a social 
housing site in the city. However due to the tragic events at the 
Grenfell Tower in London, and the subsequent ongoing investigations and 
remediation work, we are not able to undertake any of the work on our 
proposed site.  A very significant amount of work has been undertaken to 
develop the second scheme to the position that we were about to install 
the panels, which we hope not to lose. However, due to uncertainty over 
how long it will take before being able to continue work on this site, 
we will need to find another project to develop.


This set-back means that we will not be able to get a second project up 
and running as quickly as we had hoped, which means that we will not be 
able to generate income as quickly.  This potentially has the impact of 
affecting the returns to investors, but we hope that we will be able to 
find a new scheme soon to minimise this.


Regards
Richard Collins

Chair of the board of Sheffield Renewables

-- 
Sheffield Renewables Ltd is a registered society under The Co-operative & Community Benefit Societies Act 2014, reg.no. IP030736



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