Biomass Community Energy Share Offer in East Midlands
Mon, 24 June 2013
Green Fox Community Energy, in partnership with John Cleveland College, has launched Leicestershire’s very first community energy share offer. Aiming to raise £986,473 from the general public, the capital will be used to install new wood-chip boilers at the College.
Investors in the project will become Members of the John Cleveland College Community Woodheat Co-operative, and we would like as many people in the East Midlands as possible to benefit. With a minimum investment of £250 and a maximum of £20,000, investors are projected to receive a return of between nine and nearly 13%.
This innovative renewable energy project, which is collaboration between three not-for-profit organisations Green Fox Community Energy Co-operative, Transition Leicester and Sharenergy, aims to use sustainably harvested wood from local woodlands to fuel wood-chip boilers that will heat John Cleveland College in Hinckley, Leicestershire.
Richard Halsey, a founding Director of Green Fox Community Energy Co-operative, comments: ‘The John Cleveland College Community Woodheat Co-operative is launching a share offer to raise the capital required to install the boilers. By using this model, we hope to attract local people to invest and benefit from the project. A co-operative is run on a one share, one vote system, every investor gets an equal say in how it is run.’
Richard continues: ‘Investors in the Co-operative become its members and they will be contributing to the reduction of carbon dioxide emissions from the College by an estimated 400 tonnes annually. Furthermore the project will seek to source the woodchip locally from The National Forest which will in turn sustain local jobs.’
Download the Share Offer document: www.greenfoxcommunityenergy.coop