We’re kicking off the discussion with great news about our 1 MW for Totnes & District Share Issue. Those of you who came to the AGM in December will know that following refusal of the Totnes Community Wind Farm planning application last year (see previous blog entry) we’ve been extra busy with other projects. All this hard work is now paying off in the form of new consented solar pv and hydro power projects. Specifically, we have reached agreement with South Devon Rural Housing Association to install solar panels on all of their suitable properties. The Survey work is nearly complete and over 100 households will soon enjoy a source of free electricity, helping out some of those most at risk of fuel poverty and supporting growth in the local economy through our project partnership with BECO Solar. TRESOC will benefit from the Feed in Tariff income, enabling payment of dividends to our members.
We’ve also secured agreement with Dart Renewables for a £500,000 community investment in the hydro project at Totnes Weir, and more at other hydro power sites on the Rivers Teign and Dart. With extra solar schemes in the pipeline this adds up to a TRESOC investment package in consented local renewable energy projects with a combined value of more than £1.5 million.
With the Government’s Community Energy Strategy and other measures supporting growth in community renewables this is a huge opportunity for local people to earn a healthy income from large and small investments in local renewable energy installations. It will also provide TRESOC with working capital to develop more projects in solar, hydro and various forms of biomass – and who knows – maybe another wind project one day!
We’re finishing off the detailed legal agreements necessary to realise these fantastic opportunities in our Share Issue, scheduled for April. Meanwhile, we’ll keep you informed of progress and look forward to hearing more from our members.
Many thanks and best wishes to all TRESOC members and supporters,
Ian Bright, Managing Director