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In line with the provision in its Share Offer, the Directors of Grannell Community Energy have decided to extend the application date for shares to 14 December 2018.

The decision to extend the deadline has been taken after a great deal of consideration and reflects that there will still be approximately 12 months to complete the installation of the project before the Feed in Tariff deadline.

The number of Investor that have bought shares continues to rise and remains the main focus to raise finance in order to ensure the most community involvement and control, whilst providing a good return for investors. The project is also exploring alternative finance possibilities including an institutional share purchase.

Leila Kiersch, Chair of Grannell Community Energy explains: “We set ourselves a high target to reach in just eight weeks, so while we are pleased to have made good progress, the amount raised to date is not yet sufficient to proceed.”

She adds: “We would like to reassure applicants that all their funds are kept aside and will not be spent until we are in a position to confirm that the project can definitely go ahead. We remain fully committed to return all funds if at any point it becomes apparent that we will not obtain sufficient finance to proceed.”

The team is working hard on a new marketing push, with updates to its website, along with attendance at events, press and social media releases and targeting national advertising. The project will also target long-standing supporters of other community energy projects, because the cuts to the Feed in Tariff scheme are making it very difficult for new projects to be viable, making this project one of the last few opportunities until government policy changes, for the general public to invest in community green energy.

Leila adds: “We have raised nearly £140,000 so far but still have some way to go, if you know anyone who might like to buy shares, please ask them to consider supporting this project and getting involved – and please do give anyone you know who is interested a nudge to get in their applications.”

Grannell Community Energy aims to deliver a project that can bring the community together, generate green energy in the heart of Wales, and offer supporters a fair return for their funds and trust, and all while providing a community fund to support local projects in the area.

If you would like to buy shares in the project please email info@grannellcoop.org.uk, call 01743 835242 or visit the website www.grannellcoop.org.uk

Grannell Community Energy is supported by Sharenergy, based in Shrewsbury, who have facilitated over 30 community energy projects throughout the UK. Their extensive experience is being brought to bear on this project through the Renew Wales programme.

In addition, the Welsh Government is supporting the project through its new Energy Service, which supports the public and community energy sectors in Wales to develop energy efficiency and renewable energy projects.

Grannell Community Energy (Grannell) is one of the very last onshore community wind projects in the UK to secure a Feed-in Tariff.

The Feed-in Tariffs (FIT) scheme is a government programme designed to promote the uptake of renewable and low-carbon electricity generation technologies. It was introduced on 1 April 2010 and will be phased out by March 2019.
Over the last two years the FIT scheme and its tariffs have been reduced considerably every quarter, and also rationed so very few projects have been able to get any FIT at all. The number of new installations that can receive support under the FIT scheme each month is capped, and Grannell was one of the last community led project of its kind in the UK to be eligible.
Jeremy Thorp from Sharenergy said: “Grannell has managed to secure a FIT, and although it seems low, the group has cleverly designed their project to work at this level, reducing costs by using a high quality refurbished Enercon wind turbine from Holland and by obtaining a loan from the new Development Bank of Wales.”

Grannell applied for the FIT scheme in December 2016, and according to Ofgem records the group’s wind turbine is one of only five across the UK which will receive a FIT at the same rate. In fact, Grannell is one of the last 25 onshore turbines in the UK which will receive any government support of any sort.

In the case of Grannell’s wind turbine near Lampeter, the FIT provides a payment for each unit of energy the turbine generates. The wind turbine has qualified for a FIT of 1.92p/kWh, which will be increased by RPI over the 20 years of its existence.

Jeremy adds: “The implications for wind power are grim, there will be very few projects which can survive without some level of support. Those that can will likely only be very large wind farms in remote areas, rather than medium scale community-owned projects.”

If you would like to support one of the last community-owned wind turbines in the UK, consider joining the project by buying shares. You can apply online via the website www.grannellcoop.org.uk or by sending a paper form in the post.

Grannell Community Energy is supported by Sharenergy, based in Shrewsbury, who have facilitated over 30 community energy projects throughout the UK, and their extensive experience is being brought to bear on this project.

It’s all guns blazing for Grannell Community Energy’s (GCE) wind turbine project over the next few weeks, as shares are now available to buy in the project – the largest of its kind in Ceredigion.

GCE Chair, Elly Foster attended the Lampeter People’s Market in Victoria Hall on Saturday 23 June to speak to locals and hand out information about the Share Offer. She said: “We’ve had a lot of interest in the project so far, and now we’re letting everyone know that the shares are now available to buy!”

To buy shares and become a member and co-owner in the wind turbine you have to be aged 16 or over. You can apply for between £100 and £100,000 in shares, with the annual return for members estimated to average 5% per year over 20 years. It is also anticipated that approximately £5,000 a year will go into a local community fund.

The wind turbine is to be built near Cribyn, Lampeter and is an Enercon E48 500kW. It will generate approximately 1700MWh of electricity per year – enough for approx. 450 homes.

Grannell Community Energy members will also be out and about in Aberystwyth on Saturday 30 June to raise awareness of the project and hand out leaflets to those interested in the project. For more information and to purchase shares please visit www.grannellcoop.org.uk

Grannell Community Energy is supported by Sharenergy, based in Shrewsbury, who have facilitated over 30 community energy projects throughout the UK, and their extensive experience is being brought to bear on this project.

Photo:  L-R: Dinah Mulholland accepting the Share Offer Document from Elly Foster, Chair of Grannell Community Energy in the Lampeter People’s Market. Dinah is a member of the Labour Party in Ceredigion and a huge supporter of GCE and the concept of community energy.

1st June 2018 – Grannell Community Energy (GCE) has today announced the launch of its Share Offer to the public. This is the first community benefit project of this size in Ceredigion where a 500kW wind turbine has been built and shares offered to the public.

Grannell Community Energy is managing the project and to date funding for the project has come from short term loans from the Development Bank of Wales and an Ynni Lleol Grant. The loan will be refinanced using the money raised from the share offers.

GCE is a Community Benefit Society, meaning that anyone aged 16 and over can become a member and purchase shares to become a part-owner of the wind turbine. This is the first time the public are being given the opportunity to become members and buy shares in this innovative local community energy project in the Lampeter area.

The Share Offer is part of a fundraising exercise by GCE to raise £700,000 in order to fund the initial build of the wind turbine. The community group is inviting people from the local area and beyond to buy shares and become members of the project.

Grannell Community Energy want to give as many local people as possible the opportunity to buy shares for themselves and family members. Therefore, if you are living in Ceredigion, SA40 and SY23 you are invited to invest £100 or more. Outside these areas the minimum investment is £250. The annual return for members is projected to average 5% per year over the next 20 years. Members will receive interest on their shares after a few years and will also be asked to vote at the yearly AGM.

The project will also generate a community fund which is expected to total approximately £5,000 a year (index-linked), this fund will support local projects bringing social, economic and environmental benefits to Llanwnnen, Llanfihangel Ystrad, and Lampeter.

Elly Foster, Chair of Grannell Community Energy, said: “It’s taken a lot of hard work to get this far and we are really excited to be able to offer shares in the wind turbine at last. The aim is to raise the funds within the next few months and hopefully if we reach the target to start building before Christmas 2018!”

The wind turbine is an Enercon E48 500kW machine which will be installed at Ffrwd Farm near Cribyn, Lampeter. The turbine, which has a 50-metre tower and 44-metre rotor diameter, will generate approximately 1700 MWh of electricity per year – enough for about 450 homes. It is estimated that it will prevent about 600 tonnes of CO2 from entering the atmosphere a year.

Lindsay Thomas, Treasurer of Grannell Community Energy said: “This is a unique opportunity for anyone with an interest in renewable energy and the environment, as well as the financial benefits of being involved, members who buy shares will know they are making a difference for generations to come, as well as supporting our local community.”

For more information and to download a copy of the Share Offer Document please visit www.grannellcoop.org.uk

Grannell Community Energy is supported by Sharenergy, based in Shrewsbury, who have facilitated over 30 community energy projects throughout the UK, and their extensive experience is being brought to bear on this project.