Community Power Cornwall
We are raising funds for a community owned wind project in mid Cornwall through an open share issue which closes on 19th July 2011. To help us develop more projects like this please donate through the Big Give. To purchase shares from CPC please go to: www.communitypowercornwall.coop
June 2011 - July 2011
Community Energy Plus
1. The dual challenges of climate change and energy security are threatening the wellbeing of communities and biodiversity across the globe.
2. Despite the introduction of Feed in Tariffs, there is a lack of gap funding/ investment needed to secure bank loan finance for renewable energy schemes.
3. Communities that host privately-owned renewable energy schemes tend not to receive a direct benefit for doing so and are missing opportunities to generate income for local projects and services.
1. CPC will help to mitigate climate change by generating renewable energy and educating host communities on sustainable energy use.
2. CPC will fill the funding gap required to secure loan finance by raising funds from public share issues.
3. Host communities will benefit from re-investment of surpluses in further local renewable generation capacity and community grants.
Launch first share issue and install first scheme in 2011.
Activities» • Secure planning permission for first site at Gorran Highlanes (Complete. Applications for other sites are in the planning system).
» • Secure loan finance for first share issue (Complete).
» • Install turbines at Gorran Highlanes by end of 2011 (started 6 July 2011).
» •Register for Feed in Tariff before March 2012.
Success will be demonstrated when the 2 turbines are installed and a significant number of community members have ownership of them. 86 people have purchased shares so far.
• Carbon emissions will be reduced and energy security improved. Demonstrated by: kwh of electricity exported to the grid.
• Host communities will have more resources available to reduce their carbon emissions. Demonstrated by: Creation of local Low Carbon Funds in host communities.
• Increased community participation in the ownership, direction and development of renewable energy resources. Demonstrated by: Membership of CPC and participation in decision-making.
For further information on risks, please refer to the share issue brochure at: www.communitypowercornwall.coop
Members of the CPC cooperative are being informed of progress via emails and newsletters.
Donors to Community Energy Plus’ project development service for communities will be informed of progress via email.
Budget - Project Cost: £500,000Loading graph....
Amount Heading Description £500,000 2 Wind Turbines Supply and installation
Current Funding / Pledges
Source Amount Low Carbon Society £179,557 Guaranteed Shareholders £66,600 Guaranteed Other investors £60,000 Conditional
The first project is located in Gorran Highlanes on the Roseland Peninsula in Cornwall. Technical feasibility for turbines at two further sites has been confirmed and planning applications are in the planning system. These sites are RSPCA Cornwall Branch Animal Centre at St Columb (mid Cornwall) and Bishop’s Forum Adventure Activity Centre at Halvasso, Longdowns (between Falmouth and Helston).
Communities hosting renewable energy technologies will receive a new long term income stream for distribution to local projects. Surpluses made through the venture will be allocated to re-investment in further local renewable generation capacity and community grants.
The anticipated return for shareholders is 1% in year one rising to 7% in year five.
Community Energy Plus has facilitaed over 200 community renewable energy projects in Cornwall since 1998. This includes an award-winning Low Carbon Communities Challenge Phase 1 project at Ladock and Grampound Parish where we managed the installation of £500k worth of multiple measures to community, private and public sector properties and reassignment of Feed in Tariff income to a local low carbon fund for the community.
Read more about the Charity running this project.
Award-winning Sustainable Energy Projects Manager at Community Energy Plus. Neil is the project's technical expert and a Director of CPC.