Why do we charge in euros? We charge in Euro because the panels are purchased in the Euro Zone. There is no charge for inward payments to our Euro account and the Euro account is with HSBC Clerkenwell Branch London.
How do I recieve my earnings from electricity produced? Payments will be made yearly and calculated on the percentage hold of the farm in units and the same percentage of electricity sell after costs have been deducted. The details of how this is calculated can be seen on the loan agreement.The Spanish utility company Endesa will be purchasing the electricity from Granite Consultants Limited and Granite Consultants Limited will distribute the money earned among the owners of the farm. Payments can be made by cheque or bank transfer.
How do I sell my units if I want to opt out of the enterprise? Because this is not a share or equity on an exchange, an instant sale is not always possible. However, there is a demand for existing units of a farm that is already producing electricity and showing returns above the average interest rate. Most interest for “second hand” units comes from existing owners. Our company may even purchase the units, in certain circumstances, as we make our company profits from the ownership of these units too. Without a guarantee we endeavour to assist any customer to sell on his units should he wish to do so. Given that the returns are index linked and rise year on year in accordance with inflation, the units become more attractive the longer you hold them thus making them easier to sell on.
What will happen to my investment in 25 years? The lifespan of the panels is guaranteed for 25 years. This does not mean that the panels will self destruct on their 25th birthday. Most panels have a life expectancy of 35 years. Because they are maintained and serviced regularly and because the warranty lasts for 25 years the panels are safe. The Government of Spain is not likely to accept the disappearance of renewable input to their electricity supply in 2034 either. It would be reasonable to expect that there will be offers of upgrades and incentives to change to more modern technology as time progresses.
If you have any more questions for us you can call us or email us. Our contact details can be found here. We look forward to hearing your feedback.
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