Awel Coop is delighted to report that it has been able to repay its co-op members their interest payments from the date of their investment in the award-winning project.
We have paid 5% and 7% payments (depending on when they joined) to our 800 members as projected in our Community Share Offer. This is a massive achievement in our first year of production. It helped us win the Neath Port Talbot Business Awards for Sustainability. It proves that people can get a better return than the banks by investing in green community business.
As well as many individuals who invested in us, our co-op members include a range of community organisations in the local area such as Tiddlywinks Nursery, 16 schools, Friends of Pontardawe Arts Centre, our two local Welsh language newspapers, Llais and Glo Man, and many others. All this helps keep money in the local economy and engage people in climate change action.
We’ve now raised nearly £2.8m from our Share Offer and we hope to reach our target of £3m by 30th June. This will enable us to pay of our remaining Welsh Government loan so the project is funded solely by co-op members and Triodos Bank. The minimum investment is £50 and the projected interest rate is 5%. Do join us here www.awel.coop
Community energy has the unique potential to bring together communities together in the struggle to combat climate change, and also to keep funding from their energy resources, within those communities.
We, and other community groups, engage people in creative ways – after our AGM this week at the start of the national Community Energy fortnight, over 100 people came to see ‘Flood’ a new piece of theatre. This play was developed by local writers and imagined a scenario where Swansea was flooded, and the refugees come to Pontardawe Arts Centre, turned into an Evacuation Point for the evening. Soup was provided by the wonderful Café Make.