What is Awel Co-op?
Awel is a Community Benefit Society registered with the Financial Conduct Authority, Number: 7204
What are the financial returns?
Shares purchased after June 15th 2016 receive a projected 5% interest each year over the lifetime of the project. Shares purchased before June 15th 2016 receive a projected 7% interest each year.
When and how can I take my money out?
Shares in Awel should be considered a long-term investment: they are not like a bank account or conventional shares.

Shares cannot be sold. However they can be withdrawn, subject to the consent of the Board of the Society.

Members can withdraw their shares by applying to the Awel Board. The Board will meet twice-yearly, unless an extraordinary meeting is convened. Withdrawal requests will be considered on a “one-in-one-out” basis, unless in the event of a member’s death or an exceptional circumstance.

There is a limited amount of capital per annum in the Awel reserves. Therefore, withdrawal will be considered when there is a matching sum to replenish the amount being requested for withdrawal.

Can communities or commercial organisations invest in Awel?
Yes, it is possible to become a member as an organisation.

Membership is open to any individual or organisation that supports the objects of the society, subject to a minimum shareholding investment of £50 and a maximum shareholding investment of £100,000.

As with all co-operatives, it will be run on a democratic, one-member-one-vote basis, irrespective of the number of shares held.

Who maintains the turbines?
There is a robust maintenance contract with Enercon for 15 years, ensuring that the turbines are working for over 96% of the time.

If there is a problem, the contract enables the Co-op to obtain compensation from Enercon to continue its payments to the banks and members.

We have spoken to a number of community energy groups who have been very satisfied with the quality of the Enercon turbines and the robustness of the EPK  maintenance contract should things go wrong.

What happens if the turbines break down?
The Co-op and Enercon will have off site monitoring facilities (SCADA); if there are any issues we will be notified and action can be taken.
What is the Feed-in-Tariff?
The FIT is a government subsidy for renewable energy that was introduced in the UK in April 2010, and covers wind schemes up to 5MW. It is made up of three elements:

  1. Generation tariff – this is a payment made for each unit of electricity generated. The amount depends on the size and date of the installation, but the rate is guaranteed for 20 years.
  2. Export tariff – this is a further payment (currently 4.91p) that is paid for each unit exported to the grid.

If you have any questions regarding the project which are not answered here or in the Share Offer Document, please don’t hesitate to get in touch with us.