We recently announced that our next project would be a solar park and that we hoped the share offer would launch soon. Before we launch a project we undertake significant due diligence to ensure it is the best possible project for all of our members, with minimal outstanding risks. We recently became aware of a possible risk to the grid connection date for the project. We have reflected on this news and whilst the risk remains, it is prudent for us to postpone the share offer. We expect the issue to be resolved early next year and hope to be able to launch the share offer for the solar park soon after.

Derril Water Solar Park - share offer opportunity

In the meantime we would like to offer those with a reservation the opportunity to buy shares in Derril Water Solar Park, the project we launched earlier this year. We're also extending this opportunity to existing members of Derril Water to buy additional shares. The share offer for Derril was the UK's largest single co-op equity share raise in UK history. Those who are members of Derril or who have a reservation for project 4 will receive an email with details shortly.

We're aware many of you were looking forward to the opportunity to own part of a solar park. We are really pleased that the Derril co-op board today agreed to allow people with a reservation to buy shares in Derril Water. This opportunity is only possible because the finance contracts have not yet been finalised and signed.

We thank you for your continued patience.