Post by failedtheturingtest on Sept 11, 2019 15:58:55 GMT
Does anyone here have any knowledge about the situation regarding the new debenture for I** that is primarily intended to fund further work on the hydro projects already under development? Take-up of the offer has been quick, but it seems worthwhile to look into it carefully when a company asks for more money to complete a project.
They paint an optimistic picture of progress so far, saying that the objections raised have been about construction traffic and landscaping, but I've also found some sceptical local news coverage that cites local councillors expressing worries fed by the near-failure of the Whaley Bridge dam. I don't think those particular fears are justified -- the head pond for this project will not receive runoff the way that the Toddbrook Reservoir does, and there will be ways to drain the head pond -- but fear could overrule rational argument and cause councillors to reject the project, claiming to be protecting the nearby village. I suppose I'm not allowed to post a direct link to the news story I have in mind, but if you search for stories about the borrower by name in the (Aberdeen) Press and Journal from early August you can probably find it. Does anyone have any more recent information about whether those fears might have been overcome yet? Or is this likely to be just noise that won't lead to a sustained objection?
Last Edit: Jun 7, 2020 21:42:16 GMT by Ton ⓉⓞⓃ: To add "Abu" to the title
When I saw the name I wrote to Abundance, because of the horrowshow loans on assetz under the same name (I * *)
They wrote back to say: The companies in question were originally set up by the I* L* team as part of their business which involved identifying suitable sites for small single turbine wind farms. They secured planning permission for around 100 sites in total out of which they sold around two thirds to various entities to then go and erect the actual turbines.
Four of these companies were sold to G* E* W* in 2017 which ended the involvement of anyone at I* L*. The team is aware that G*E*W* raised capital through Assetz Capital and that things have not gone according to plan in progressing them through to successfully operational sites.
The team at I*L* have not sought to construct or operate any of those sites and have had no ongoing involvement with any of the companies they sold. The company names should now have been changed so as not to include 'I**', however as this change occurred after Assetz Capital's involvement, the documentation may still refer to the old company names.
Sorry about the fershugginer *s. You get the Idea. This I* being hawked on Abundance say that they are not the same company as defaulted
Interests declared: I have shares in Assetz, Syndicate Room, The Housecrowd. They are as nothing compared to my investments on and reliance on the good health of many other platforms here.
Post by failedtheturingtest on Sept 16, 2019 7:34:02 GMT
Thanks for relaying that. The company has experience in the initial stages (site selection, EIA, planning permission, etc) of developing renewable energy projects, but as you note, it sounds like their experience may be limited to sites with no more than one wind turbine. The prospectus says they've done 96 wind sites and two 5 MW solar projects. The project that they are now working on is enormously different in scale and impact, so maybe it's a big leap for them? I'm still inclined to support it but I will limit the amount I invest in any one company's projects.
Post by GentlemansFamilyFinances on Jun 7, 2020 13:50:36 GMT
The other investment by the sane griup is around 7 mknths from payout. Potential for about 70p / £1 interest but i don't know how risky it is and you might just get your money back. Marketplace has them at plus 20% which coukd be xheap imo.
Long time investor in P2P Lending - I've seen the good, the bad and the ugly! I have a blog that you can have a look at - covers personal finance, family life and our family journey towards FIRE. gentlemansfamilyfinances.com/ My blog contains referral links which you should be aware of.