YnNi Teg share offer is now open
YnNi Teg is a new Community Benefit Society that has just finished building a 900kW wind turbine in Carmarthenshire.
The project arose when Community Energy Wales were given the opportunity to rescue a project that was at risk of being abandoned because the original commercial developer was not able to build the turbine within their original 12 month FIT deadline. Community projects are able to obtain an extra 6 month deadline, so Community Energy Wales took up the challenge, set up a new Registered Society called YnNi Teg (Welsh for Fair Energy) and set about getting the turbine built by the still challenging new FIT deadline of 7th August 2017.
As a result of fantastic support from many key players, including the turbine supplier EWT, financial support from Finance Wales and Ynni Lleol, the DNO Western Power Distribution, the site developer Seren Energy, and the landowners, we achieved our FIT deadline with 5 days to spare and commissioned the turbine on 2nd August 2017.
To meet the deadline we had to get capital quickly, and did this by obtaining loans from Finance Wales and from EWT, but we now need to pay these loans back, both to maximise the amount of money that we can put into our community fund, and to create genuine community energy by spreading ownership and control of renewable energy equipment across large numbers of members rather than held in the hands of a small number of individuals. By buying shares you will become a co-owner of this wind turbine and you will also get a fair return on your investment. Please read our share offer document, downloadable from our website ynniteg.cymru for more details.