“TRESOC – a new type of community renewables company… a business that should be funded… TRESOC may enable Totnes to become one of the first towns to operate its own independent generation and energy retailing company supplying local homes and businesses with ‘local’ electricity” – Chris Goodall, Carbon Commentary
Shine Project – workplace, care home and 11 homes DONE!
Watch the 3 minute video to see the launch of the Shine Project – working in partnership to install arrays on social housing tenants’ roofs from Exeter to Plymouth.
Totnes Weir hydro – £1.3m target reached
Fantastic news! Dart Renewables Bond Issue raised £1.3m and has now closed.
The Dart Renewables 2015 bond issue to raise capital to finance completion of this iconic Totnes hydro scheme closed ahead of schedule as the target total of £1.3m was reached with 9 days to go. About a fifth of the funds raised came from local investment. Congratulations to Dart Renewables, who have worked diligently on the project for many years.
SHINE project kicks off
We’ve started our SHINE project… solar PV on the roofs of 77 social housing homes across the region, from Plymouth to Exeter, concentrated in Totnes and Dartington. Expected annual generation 270,000 kWh. Savings for SDRHA residents approx. £40,000 per year. C02 equivalent 121 tonnes per year. NOW GENERATING! – the array on Devon Rural Housing Association’s HQ, also home to the Totnes Work Hub. Lower electricity bills for tenants! The SHINE project launched on Friday 27th March.
AGM success and next steps
GREAT NEWS! TRESOC members voted almost unanimously to accept bank loan finance and release our Share Issue investment of £258,000. As a result, we are now 1) progressing with Charity Bank loan documentation and 2) moving forward with the SHINE project – solar on the roofs of 77 Housing Association homes across the area. Next will come the purchase of the roof-mounted 50kW array at Hatchlands Farm. Then we can turn our attention to hydro and start organising our Creative Conversations, where we’ll open up the dialogue about the what, where, why and how of Community Energy.
TRESOC AGM Directors Report Mar 2015
TRESOC AGM Minutes
More renewables for Totnes!
We have achieved over a QUARTER of a MILLION pounds in local investment… £258,000 to be precise. Your investment (min £20, max £100,000) has kick-started our ready-to-go solar projects, bringing them into community ownership. Thank you for making an ethical, secure, investment in community-scale, clean energy installations… co-owned with your friends and neighbours. Millions have been raised by Community Energy groups across the UK – we have the power!
More good news – TRESOC has succeeded in meeting Charity Bank’s rigorous criteria and has received a “Heads of Terms” document for a loan of £356,000 based on two of the solar projects in our prospectus; 70+ Housing Association roofs and the purchase of the operating array on Hatchlands Farm barn.
Unblocking the UK Community Energy Revolution
The Government is proposing changes to the rules and regulations that govern the co-operative structures that are most suited to deliver community energy in the UK. Although this doesn’t affect us directly, the FCA is challenging the very foundations of co-operative endeavor, whereby capital raising and profit distribution go hand-in-hand with the realisation of social mission. Community Energy England have produced a briefing – backed by national orgs including CPRE – that highlights the main actions that are required to get the UK’s community energy revolution back on track. Please download and read it and write to your MP.
Dartington make further investment in TRESOC
The Dartington Hall Trust has increased its investment in TRESOC at a key point in the Society’s growth. The Trust joined TRESOC as a corporate member in 2010 and recently chose to invest a further £20,000 in TRESOC’s current Share Issue, bringing the total raised so far to £230,570. Our members continue to email us words of support along with their investments: “the reward for small investors is definitely seeing the alternative energy base grow and develop. I and others will rejoice just to see the solar panels spreading!”
Loan Application Submitted to Charity Bank
A fantastic total of £230,570 has been raised to date and we are still open for further applications. A heartfelt thank you to all our investors, old and new. After careful analysis of our finance model, we are pleased to have submitted our application to Charity Bank for a loan facility to enable us to make up the shortfall to the minimum target for this share issue. Read more here.
Renewables benefit both rich and poor
The World Future Council’s new handbook shows how forward-looking communities around the world are already moving away from reliance on fossil fuels and generating their own power with 100% renewables – while also becoming more prosperous and creating jobs. The report, ‘How to Achieve 100% Renewable Energy‘, is released ahead of the UN Climate Summit in New York tomorrow, when the UN Secretary-general, Ban Ki-Moon, will call on world leaders to make new commitments to cut fossil fuel use. Read an overview in this article in The Ecologist.
The Naturesave Trust contributes to TRESOC
Many thanks to The Naturesave Trust who have awarded TRESOC £250 towards the cost of printing our 2014 Share Issue prospectus. The Trust was set up in 1995 to fund specific environmental and conservation projects throughout the UK. It obtains 100% of its funds from the premiums generated by Naturesave Insurance, which uses the insurance industry as a vehicle for sustainable development. The primary function of the Trust is to encourage the greater adoption of sustainable development, especially within the Small and Medium Sized business community.