The latest Shareenergy news.
Quick summary: 9 share offers underway. One expected to sell out rapidly http://www.heartlandwind.org.uk/ and one ending in 2 days time http://www.anafonhydro.co.uk/
We're in an unprecedented period of activity with no less than nine share offers live or impending. To some extent this reflects the impending withdrawal of SEIS tax relief - although the Government does not seem sure when they are actually taking it away, we're all trying to make sure everybody benefits while we still have it. At a deeper level the number of offers is a reflection of the strength and depth of the community energy revolution - it takes a lot of work to get to share offer stage and many of these projects have been years in the making.
The list of current share offers is below - before that we'd just like to mention Chase Community Solar, who reached their target with their innovative fuel-poverty-alleviating solar project, and Ledbury Community Solar, who closed their share offer a month early. They have been oversubscribed by more than 100%, which is a record in our experience. Congratulations to both teams for their outstanding efforts.
We're pleased to say that Heartland Community Wind launches today. This is our biggest ever project - 2 x 250kW turbines and £1.8m in total, though we are raising the initial £450,000 to get turbines on order with the current share offer. SEIS shares will sell out very quickly, and the Society is rationing so that you can't buy SEIS shares unless you also buy at least as many EIS shares.
HOTTWind is a fantastic project repowering one of the UK's first commercial turbines with a larger model. Much of the power will be used on site in a dairy, and there's a really good community benefit package. Wind projects are very hard to bring off and this is an entirely volunteer-led project arising from a Transition Towns group. £150,000 has already been raised and the main share offer starts on 16 March. https://www.facebook.com/HoTTWindLongley
There are 5 hydro offers that we are involved in right now:
Ynni Anafon. Just 2 days to go in this share offer which has already raised over £400,000 for what will be the biggest community hydro outside Scotland - amazing from such a small village. We're providing admin support to this offer. The more they can raise in shares the lower the loan they need to take up - and the greater the community benefit. http://www.anafonhydro.co.uk/
Ludlow Hydro. Nearly 7 years ago we started working on hydro in Ludlow so it's brilliant to see such strong local support for this repowering of a mill on the River Teme. The installation shows that hydro (in this case an Archimedes Screw) can sit alongside historic and beautiful heritage while providing enough power for a lightbulb in every Ludlow home. http://ludlowhydro.org.uk/
Corwen Electricity Co-operative. North Wales has many small streams which carry a lot of power as they tumble into the valleys. So much power that in Corwen, a flood alleviation scheme has been put in place. This project will work cleverly alongside that scheme to generate 60kW. http://corwenelectricity.org.uk/
Bury Community Hydro. Sharenergy and Bee Sustainable are working together to install hydro on Chamberhall weir in Bury, Manchester. The current share offer is a 'pioneer' offer to raise development funds and get us through planning and permitting. If you want to help out on the sharp end then please consider supporting this project. It's particularly important because the weir belongs to the Local Authority - as lots of sites do across the UK - and we sometimes struggle to get access to this kind of opportunity. http://buryhydro.org.uk/
Braemar Community Hydro. Until recently, Scottish hydro was the mainstay of UK renewables, based on installations from the 1950s. Now a new crop of community-owned hydro is coming through. BCH will launch their pioneer offer soon - details of website to follow.
Pomona Solar is the latest Herefordshire solar co-op to join the 3 already established in the county. Pomona aims to carry out a range of installs - the first one will be a small solar field (250kW) feeding straight into an on-farm industrial estate where beer barrels are made, among other things. This on-site use is a good way of maximising generation even where the grid is not well developed, as in many rural areas. The share offer launches on 5 March and details are here: http://pomonasolar.org.uk/
Liverpool Community Solar aims to install community-owned solar throughout Liverpool - there are similar projects being worked on in Manchester, Birmingham, Cardiff and Leeds, to name only the ones we are in touch with, but LCS are the first of the current crop to come to share offer. This is a pioneer offer for development funds - very exciting to see a project with city-wide scope. For all details and a really good article explaining why we (all) do this see http://lcr.coop/
We now list all live share offers on our website at http://www.sharenergy.coop/live and will continue to send out email newsletters like this when there are new offers. We think you will agree there is quite a choice!
All the best from the Sharenergy Team.