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|In the next few months we will be offering investment opportunities in four projects. |
Kitchen Food Company Riverwood NSW Two 100 kW roof mounted systems. ClearSky is financing the full cost ($166,170,100) via ClearSky Solar Trust No. 33. The minimum investment will be $7000 The project has a 10 year PPA and the IRR for investors is expected to be 6.7%
Breakers Country Club at Wamberal in NSW. A 252 kW system mounted on a structure to be built over the car park ClearSky is financing the full cost – structure and solar installation ($442,100) via ClearSky Solar Trust No. 30. The minimum investment will be $20,000. The project has a 10 year PPA and the IRR for investors is expected to be 6.6%
Cobar Water Board pumping station at Nyngan. A 600 kW ground mounted system. ClearSky is financing the full cost ($927,000) via ClearSky Solar Trust No. 32. The minimum investment will be $40,000. The project has a 10 year PPA and the IRR for investors is expected to be 6.5%
Cobar Water Board pumping station at Hermidale. A 600 kW ground mounted system. ClearSky is financing the full cost ($897,000) via ClearSky Solar Trust No. 31. The minimum investment will be $40,000. The project has a 10 year PPA and the IRR for investors is expected to be 6.5%
Cobar’s only supply of water comes from the Bogan River in Nyngan. It is pumped the 130 km distance from Nyngan with two large pumping stations, one at Nyngan and the other at the halfway point, Hermidale. CWB is owned by Cobar Shire Council.
Units in some of these projects have already be offered (and taken up!) by ClearSky registrants who have missed out on earlier projects. The offer will be extended to all registrants in a few weeks.
Our first two ClearSky projects have now run to term
ClearSky Solar Trust No. 1 financed three 20 kW installations at Food Services Central premises in Bathurst, Parkes and Griffith NSW. The 7 year PPA commenced in December 2013. On 1 December 2020 the ownership of the systems was formally transferred to the business owning the three facilities. The installations can be expected to continue generating clean power for at least another 18 years at zero cost. Investors received an IRR slightly above what was predicted in the Information Memorandum. This was also the case in the second project to reach its term: Aeronaut Automation, situated at Terrey Hills in NSW. We are planning a virtual celebration to which you will all be invited in late May – after our third project (Trust 2) has completed.
When a project competes its term, investors get a summary showing the performance of their investment, then when ClearSky has submitted the final tax return to the ATO, the trust and trustee company (if applicable) are wound up and the bank account closed.
ClearSky investors financing nine Office Works solar installations
Browns Plains (QLD), Traralgon (VIC), Trinity Gardens (SA), Morley (WA), O’Connor (WA) and Keswick (SA).The first four are already operating and the last two about to be constructed. Subiaco (WA), Taylors Lakes (VIC) and Warana (QLD) are in the planning stage. These were all single investor projects that were offered to registrants who responded to a call for expressions of interest in mid 2020.
A map showing all our projects and how they are performing.
On our home page you will now find a link to a map giving details of each site and showing how much energy it has generated (every MWh represents 1 tonne of CO2 avoided) and how the investor revenue is tracking the estimate given in the Information Memorandum. Most sites are tracking well. The few that are not, all suffered ‘teething problems’ early in their life and can be expected to make up some of the lost ground before end of term. The longer the project has run, the more accurate is the more reliable is the predicted return estimate given on the map. The map makes use of of cleverly repurposed software normally used as a store finder by large retail chains
The map will be updated following the distribution each quarter.
Once the four new projects above are operational, ClearSky investors will have collectively provided almost $12 million of investment in solar PV installations around the country with a total capacity of 7.8 MW. Generation to date is 17,800 MWh of clean green power. That is equivalent to 17,800 tonne of CO2 avoided.
ClearSky’s admin system continually evolving
We are deeply indebted to Martin Sessions from Tridyne who developed our admin system and continues to refine it, all on a pro bono basis. . The system knows who has invested in what and once we know the quarterly generation of all sites it calculates payments in a form that goes to the bank as a single file for each trust. In the last year alone, Martin has provided four enhancements. The first to deal with the Covid holiday that some end-users took up, the second to produce all the necessary end of project documentation, the third to allowed us to import monthly energy generation from all sites from a file provided by Smart Commercial Solar and verified using Solar Analytics data , and the fourth, to provide a file that allows us to update the map in a single upload operation.
with best wishes from the ClearSky team
Christina, Kylie, Neale and Warren
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Our mailing address is:
ClearSky Solar Investments Ltd76 Consul RdNarraweena, NSW 2099Australia