We’ve done it! Almost £700,000 raised in 6 weeks

My daughters . whats its all about. Future Generations. Are you done your bit?

My daughters . What its all about for me. Future Generations. Are you doing your bit?

Its been an enthralling couple of months in the valleys of Llanberis and Bethesda. The National Trust assisted community hydro projects working with stunning community teams have now raised all of the development funding needed and locally. Almost £700,000 was raised and mostly (over 90%) locally. This is a stunning achievement especially when you consider that ‘experts’ in community share offers thought that we would do really well raising the minimum 20% needed. We had already started working on more expensive debt finance approaches to make up this perceived funding short fall.  This additional funding would involve expensive due diligence costs and higher interest rates meaning more benefit leaving the area. As on 17:30 tonight both projects have sold out! These were some of the first projects to launch their share offers after the Government stopped EIS tax beneficial investment in community energy  late in 2015 (still ok if you’re thinking of going into fracking though!). The NT team locally continue to volunteer their own time helping with the development of the projects. It’s now moving from raising money to development of the projects. A corner has been turned!

NT team also helping the community energy event over the weekend at Moel y Ci. KW = Community

NT team also helping the community energy event over the weekend at Moel y Ci. Local KW’s = Community

This entry was posted in CommunityEnergy and tagged , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s