NEWS 06 Nicola McConville Students to live on holiday camp
Is the ‘Green Pound’ the new low hanging fruit for investors? Higher education insti- tutions (HEIs) and other research institutions
have long been at the forefront of climate change technology, with increasing focus on ‘green’ projects positioned to attract external funding and investment. There are now many ways of raising finance in the green arena; from simple to sophisticated and innovative sources such as Green Angels (private investors with green investment criteria) and Green Bonds (financial instruments issued to raise funds for a green project from a defined group of people).
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reduction in the rate of FiTs for medium to large scale solar development has shaken investor confidence
Equity fundraising by private enterprises in the UK has also been made easier: with increased EU Directive prospectus exemp- tion limits implemented early in the UK on 31 July 2011 to allow securities offering per Member State to up to 150 persons (increased from 100) and/or to raise up to €5 million (increased from €2.5 million) without any require- ment to prepare an approved prospectus. However, the ‘green landscape’ is not all
good. Some recent changes have not been so helpful to the private investor. The Feed in Tariff (FiT) regime review, and reduction in the rate of FiTs for me- dium to large scale solar development, has shaken investor confidence in projects reliant on FiT income. The FiT regime is to undergo a further review next year. Another blow to companies with income from FiTs is the proposal to make the subsidised generation or export of elec- tricity an excluded activity within the Enterprise Investment cheme (‘EIS’) and Venture Capital Trust scheme (‘VCT’) framework. Those companies would not now qualify for these tax-favoured invest- ments and may become less attractive to future investors.
So, the market to attract investment continues to remain fiercely competitive: with the need as ever to balance project reward with investment risk. For more information please contact Nicola McConville, a partner and head of Blake Lapthorn’s dedicated Climate Change sector group on 01865 254 221 or at
nicola.mcconville@
bllaw.co.uk
E
dge Hill University in Lancashire is directing students to holiday homes on a nearby leisure camp, after demand for the University’s
campus accommodation outstripped supply. Pontins’ student apartments include a
fitted kitchen, private bathroom, TVs and on site facilities such as a swimming pool and a supermarket. On their website, Pontins state that
“there are still rooms available and we do not expect to disappoint anyone who has enquired.” Edge Hill University, which is located
roughly 25 minutes from the seaside resort, can accommodate up to 1,000 beds on campus, but claims demand this year has been high. In a statement the University said: “In a
year when we have experienced further increases in demand for our courses, there is a number of students looking for options off-campus. The University helps students in this situation by providing contact details for accommodation providers, and transport to see options in the region. Both UNITE and Pontins has indicated that rooms may be available.” The University also stated that students
would have contracts with these providers and that the institution itself could not com- ment on the take-up of their places, or other specific arrangements. Pontins recently hit the headlines after the
group went into administration last No- vember. It was bought out by the Britannia Hotels Group in early 2011, in a deal that the BBC estimated at £20m.
Students scrap for remaining HE c F
Gen_News.v1.md.indd 6
ollowing the release of A-Level results, David Willetts confirms that no additional university places will be allocated to students wanting to start
their studies this autumn. His announcement comes as 185,000 candi-
dates scramble for the 29,000 university places offered through the clearing system. According to official figures released by
UCAS, 684,649 applications for higher educa- tion courses were received by July 18 this year, resulting in a 1.4 per cent increase from 2010’s figures. Speaking on the Today Show on BBC Radio
4 on 18 August 2011, Willetts said that some students would not be allocated a place. “By and large it is a competitive system and it has always been a competitive system. …[but]
even in tough times we are delivering more apprentice places and the record number of university places.” He asserted that the government is provid-
ing numerous opportunities for school leavers through 10,000 additional university places and 50,000 extra apprenticeships. “That is why we have delivered the 10,000
extra places this year. When public money is so tight, we have once more got a record number of places at university. “Then of course we have increased the
number of apprenticeship places and more than achieved our ambition of 50,000 extra apprenticeships. We are trying to make sure that young people have as many opportunities as possible.” Criticisms about the government’s policy on
12/9/11 17:01:22
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