Assembly Member, Jenny Rathbone, has urged Welsh people to get behind Awel community co-op Share Offer. Jenny says “This is a fantastic, co-operative way of taking action on climate change in the run up to the UN conference in Paris.
“Awel Co-op is a significant £7.5 million project which is going to lever significant external funding into the Welsh economy. Construction is planned to start in March next year. Now, the Welsh people have the chance to own it, and ensure that all profits go into other renewable and fuel poverty projects via the charity, Awel Aman Tawe.
“I was also delighted to see that Bridgend contractors, Raymond Brown Construction, have won the contract to build the wind farm. Great news for Welsh jobs.”
The two turbines will generate clean energy, and feed all profits back into community projects. The 4.7MW site is on Mynydd y Gwrhyd about 20 miles north of Swansea.
Dan McCallum, who has led the project since it started in 1998 said, “Jenny has been a great supporter of community energy in Wales. We need our politicians to back Welsh-based community energy projects if we are to revive the great tradition of co-operative action in Wales. We also want to make sure Welsh money stays in Wales rather than going to the Chancellor – the only way to do that is to buy co-op shares before November 23rd before he takes away EIS tax relief from community energy projects. We’ve already received £49,000 of investment which is fantastic. But we want to get a minimum of £150k. Investors can claim a 50% tax break.
“We have a track record of delivering this kind of project. The same team put together the Egni solar scheme which raised £171k from a co-op share offer and installed 119kw of pv on 5 community buildings.
“We’d like to acknowledge the funders who’ve helped develop the community wind farm project with us – Welsh Government’s Ynni’r Fro programme and the Robert Owen Community Energy Fund which has been backed by Big Lottery.”
It’s not been easy, and it’s not been quick. In fact it has had the longest development period for a windfarm in the history of mankind. But however frustrating that has been, it was never about speed.
It’s always been about social justice, a, local response to global warming. It always had to be a community windfarm – ploughing money into villages winded by the closure of the coal industry.
Certainly the challenges have made me question not just the world’s sanity, but my own sense of what I want out of life. Surely in the face of worsening climate change, it shouldn’t take seventeen years to build two turbines!
Awel Aman Tawe has become an icon of dogged determination. That has been possible through the overwhelming support from thousands of people. People we’d never have met if it hadn’t been for the windfarm. Loyal, funny, innovative, supportive, risk-taking, empathic people. Even people willing to take off their clothes for our naked renewable
But in spite of all the ups and downs, the fundamental principles on which the project began hold true as much today as they did at the very start, when, having put the baby to bed, a few of us brainstormed our ideas for a community windfarm. That baby is now applying for uni.
It’s time to build a windfarm.
Please join us!
We can’t tell you how both nervous and excited we are! Anyone who knows us will know this project has seen many years of hard work from lots of dedicated and tireless people to reach the stage of this co-op Share Offer.
They know how committed we are – as are all of our supporters – to reaching our goal of providing sustainable energy and using the profits from sales to make further environmental, economic and social improvements in the area.
Because of the withdrawal of EIS tax relief by the government on 30th November, we are in a hurry! There’s a deadline! But maybe that’s no bad thing. You need to hurry too if you want to claim the current 30% level of EIS tax relief. If you are really fast, you may be able to claim the 50% tax relief available on the first £150,000 of investment under SEIS.
This is your chance to directly own Welsh wind generation, get a projected 7% return on your investment, and take action on climate change.
We are a Community Benefit Society and our project will own and run two wind turbines on a hill 20 miles north of Swansea. Profits will support the work of local charity, Awel Aman Tawe to tackle fuel poverty and develop renewable energy projects in the community. Need more reasons? Read Why Invest and our FAQs.
Our Share Offer Document gives you the information you need to decide if becoming a Member is right for you. We hope you do join us and share the excitement!
Dan McCallum, Chair, Awel
To join, just download this form, fill it out and send it to firstname.lastname@example.org or Awel, 76-78 Heol Gwilym, Cwmllynfell, Swansea, SA9 2GN.
We are really excited today to be launching the Share Offer for our community windfarm www.awel.coop . We’d like to invite you to invest in it from as little as £50.
The two turbines will generate clean energy, and feed all profits back into community projects.
This will be your opportunity to own some Welsh wind power, take action on climate change and get a return on your investment. The project has been developed by Awel Aman Tawe, a local charity. Full planning permission is in place for two turbines totalling 4.7 MW on Mynydd y Gwrhyd, about 20 miles north of Swansea.
There is a two week window for this Offer. The Share Offer is open until November 23rd 2015. This will enable investors to claim existing tax relief before it is withdrawn by the government:
- Due to the timeframe, we are allocating Shares on a first come, first served basis;
- Shares available from £50;
- Projected 7% Rate of Return;
- Our target is £500k – the first £150k may be eligible for SEIS tax relief (50%); and any above that may be eligible for EIS relief (30%);
- Support local jobs.
Click here to read our Share Offer Document and Application Form.
p.s. we are also promoting our friends at Carmarthenshire Energy who have a Share Offer open and keep an eye on Gower Power who have several exciting projects in development.
We are launching our Share Offer from Monday 9th – 23rd November. The launch has been urgently rought forward due to the Government’s shocking decision to end tax relief on community renewable energy for projects begun and equipment bought after November 30th 2015.
We are scheduled to begin construction of the wind farm in March 2016 and complete it by the end of December 2016. The Enercon wind turbines have been ordered and a local company, Raymond Brown Construction, appointed to build it.