Following the success of their first micro hydro co-operative share offer last autumn, Brecon Beacons-based energy group Llangattock Green Valleys is running a second, bigger share offer this spring. Through their first co-operative share offer, the group raised their full target amount of £270,000 to fund two community micro hydro schemes.
Now, through the snappily titled Llangattock Green Valleys Micro Hydro (2) Co-operative, they’re aiming to raise £690,000 to build a further four high-head schemes in the Brecon Beacons National Park. Together these micro hydros should generate some 355MWh of electricity a year – that’s enough to power 90 Welsh homes and displace 158 tonnes of CO2 annually. The schemes will also generate income, with a projected return for members of 5% per annum averaged over the 20-year life of the project. In addition, the co-operative has received advance assurance from HMRC that the share offer qualifies in principle for Enterprise Investment Scheme tax relief. For subscribers who are also qualifying UK taxpayers, this has the potential to boost the projected return to 7.7%.
The group has already successfully completed the Pioneer Investor phase of the share offer, with the first 150,000 shares snapped up by their 3 March deadline. The main share offer is now open, with shares priced at £1 each and a minimum subscription of £250.
To find out more, download their share offer document at llangattockgreenvalleys.org You can also email them at firstname.lastname@example.org or call them free on 0800 206 1915 to request a copy by post.