Despite everything it looks like no mater how much adversity is thrown at community energy the thing wont die! In my area it’s actually growing. Came home last night to the fantastic news that two of the latest community energy projects we are working with have now passed a combined share offer investment of over £470,000 and we have two weeks to go! People with no links to Panama want to make their communities a better place, invest in the right things and earn a little interest (up to 5%) in doing so. This really does maintain my faith in people. Most of the shares are in the £1k area which shows you the number of people involved in these two new community businesses. Only two weeks to go and looking good
With FIT’s in the doldrums and some seriously eye watering subsidies being offered to foreign investors in anything bar renewables it’s an interesting Government we have. I read with a wry smile that Good Energy have recently promised a subsidy free wind farm in Cornwall with opening for local people to invest in it (Story here) Looks like they will need to ‘up’ the subsidy on coal and gas to match this. But then the Government are pulling the rug on this and many more of this ilk with the changes in the planning system in England to make sure this form of development has the maximum hurdles. Unless its fracking of course and then you can’t really object through the planning system! Funny old world. Feels like dark forces are at work again.
Back to the good news. Shares flying out of the doors. Mostly local people are investing (90% of the investors) with a few from Northern Ireland and England. We have a meeting today to see how we close the share offer in Llanberis early as we think we will ‘sell-out’ (we hope in the coming week and then Ynni Padarn Peris will be supporting Bethesda with its share offer for the remaining week or so. The crowd at work again!