Sharenergy are assisting Community Energy Wales with an exciting project in Carmarthenshire – a 900kW EWT turbine which was commissioned at the start of August.
Community Energy Wales rescued the project which had run out of time to get the FIT tariff under the original commercial development, but by bringing it into community ownership an extra 6 months accreditation was available. Community Energy Wales therefore purchased the site and have been working to get it erected by the FIT deadline.
The turbine will be run from a Community Benefit Society called YnNi Teg Ltd (Fair Energy Ltd). Capital for the project has come initially from short term loans from Finance Wales and EWT, but these will be refinanced using community shares once the turbine is commissioned, with the share launch likely to be the start of September. Shares are expected to be offered with a projected return of 5%, with a target of £1.8M to raise. Please sign up to the Sharenergy newsletter to receive updates on the share offer when it is launched.