News
SHARE OFFER: Engi Co-operative
Wed, 9 April 2014
Egni (‘Energy’ in Welsh) is a co-operative currently looking to install solar panels on seven community buildings in South Wales. These new systems will total 105 kWp of solar PV, saving 1,000 tonnes of carbon over the lifetime of the panels. We are currently offering shares to fund these systems, with a target total of £155,000. Members are projected to receive a 4% return on their investment, as well as a potential 50% tax break on the amount invested.
http://egni.coop
SHARE OFFER: Drumlin Wind Energy
Wed, 9 April 2014
Shares are available for a scheme which will install one or two additional turbines at Ballyrobert, Ballyclare, Co. Antrim and Cavanakill, Newtownhamilton, Co. Armagh. The offer will close on 30 April 2014.
AWARD: Observer Ethical Awards – New Community Energy Category
Wed, 9 April 2014
Nominations are open for the Observer Ethical Awards and this year there’s a new category for community energy projects. The winning group will receive £2000 toward their project or a community fund. Judges are looking for creative projects that generate, purchase, manage or reduce energy in their local community. To nominate go to
FUNDING: Peoples Millions Open for Applications
Wed, 9 April 2014
The Big Lottery Fund and ITV have launched the People's Millions public voting competition for 2014. This year organisations can apply for up to £50,000 for projects that help communities to enjoy, as well as transform, their local environment. The competition is open until 13 May.
People will get the chance to vote for those projects they want to see funded in the region, when they are screened on the ITV regional news between 25th & 27th November Projects categories include ‘to make the local environment cleaner, safer or greener’
www.peoplesmillions.org.uk or 0845 0 10 11 12
Changes to Regulations May Affect Financing for Community Energy Schemes
Wed, 9 April 2014
Two recent financial regulatory announcements could affect the ability of community energy projects to raise income and offer an attractive return to their investors.
Firstly, the Chancellor announced in the budget that the Enterprise Investment Scheme (EIS) tax relief currently available to renewable energy projects will be removed from projects qualifying for ROCs and RHI. This is because EIS is intended to stimulate investment in high-risk projects, and those receiving payments in the form of ROCs or RHI are not deemed high-risk.
Secondly, a new set of rules has been published by the Financial Conduct Authority (FCA) stating that companies that want to raise money through selling shares will need to show that they are promoting their investment to those who really understand investment and the risks involved, otherwise known as ‘sophisticated investors’. This has come about due to the rise in crowdfunding schemes across a whole range of project types, although community energy schemes will certainly be caught up in it. However if your organisation is set up as an IPS then you are exempt from the changes.
More about the changes and how they might affect your activities: www.cse.org.uk/news/view/1821