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The Goldfield Solar EIS Fund is Launched

The Goldfield Solar EIS Fund is Launched

(PRWeb UK) January 25, 2011

UK’S first Tax efficient EIS Fund for domestic Solar Power Installations

Private Investors are being offered the chance to sign up for a fund that provides for tax efficient returns from investing in residential pre-installed solar power (PV) systems.

The Goldfield Solar EIS Fund is to take advantage of the generous tariffs paid for generating domestic solar electricity. It is targeting returns of eight per cent per annum for investors and has very attractive tax advantages.

Investors will be putting their money into a fund that is helping to produce greener energy and reduce carbon emissions whilst enjoying tax efficient returns. Domestic solar panels, which convert the sun’s rays into electricity, are already being installed on thousands of private homes across the country. It is a boom industry which could be worth billions of pounds in the next few decades.

It comes after the government introduced a new scheme last April known as the Feed-in-Tariff Scheme (FITS). The scheme is designed to encourage the growth of small-scale electricity production from green sources like solar and obligates the major power companies to pay a premium for power generated from eligible renewable sources. The tariff levels are guaranteed under FITS for twenty five years.

FITS has proved so popular that some solar panel companies are even fitting them for free on suitable homes.

The firms receive the income from generating the power, whilst the homeowner is allowed to use any electricity that is produced for free.

Goldfield Partners Ltd spotted the potential for taking the income produced from generating the electricity and placing it in a tax-efficient investment vehicle known as an Enterprise Investment Scheme.

It has negotiated to buy many hundreds of these domestic pre-installed systems from the solar panel installers. Unlike some other EIS or VCT schemes currently available the underlying assets for the Goldfield Solar EIS Fund have already been identified and are operational therefore the investors funds should be allocated rapidly.

It is aiming to achieve a target return of eight per cent per annum.    

Meanwhile the houseowners who have the panels installed on their homes will continue to enjoy free electricity.

David Gammond, a Director of Goldfield Partners Ltd (the Asset Managers to the Fund), said:

“This is a very powerful offer. We think it has everything that investors are looking for in the current economic climate. It is tax efficient, it has a good return, and because the assets are already installed and operational there is minimal risk. We have a target return of 8 percent per annum which includes the EIS tax incentives.

Even before it was officially launched we had interest from investors and we fully expect the fund to reach the target subscription of £10 million before the tax year end in April 2011.”

The minimum investment in the fund is £10,000 and the maximum is half a million pounds for tax purposes although higher amounts could still be invested.

The fund, which is being marketed by Ram Capital LLP and operated by Prosper Capital LLP, has gained advanced assurance from the Inland Revenue to qualify as an Enterprise Investment Scheme (EIS).

It is aiming to raise a total of ten million pounds and will run for four years.


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