by tresoc | Nov 23, 2016 | News
Make sure you vote in the Totnes referendum today on the ‘community right to build order’ to approve the development of the Atmos project, on the site of the derelict Dairy Crest Dairy (next to the train station). Atmos will create a multi use site that will include a community centre, recreational facilities, a retirement home, low cost housing, and industrial units. Their vision is to build a development that will be carbon neutral, involving different renewable energy technologies – Vote Yes!
by tresoc | Nov 18, 2016 | Membership
We are pleased to invite you to our Annual General Meeting at 7.00 p.m. on Wednesday, 30th November, 2016 at St. John’s Church, Bridgetown, Totnes. Please do join us also for drinks, nibbles and sparkling conversation at St. John’s, after the AGM.
We are delighted to be welcoming, as Guest Speaker, Karen Williams, C.O.O. of The Dartington Hall Trust; as TRESOC looks towards working in partnership with the Trust.
TRESOC AGM 2016
Building on the award winning success of last year, this year the Tresoc Team have continued to develop the solar portfolio with the purchase of the 50kW roof mounted array at Hatchlands Farm and the installation of a new 30kW roof mounted array at Lescaze House, Dartington. This marks the start of Tresoc providing electricity direct to consumers via private wire network, and thus becoming an electricity supplier. Tresoc has also established the Staverton Hydro Community Benefit Society to develop a 100 kW hydro power station which will supply low cost renewable electricity to Dartington Hall Trust. Furthermore, we continued to investigate the potential for an on farm anaerobic digestion plant to convert local food wastes into electricity, heat and valuable fertiliser.
On the administration front, we have upgraded our financial management and forecasting capabilities with the adoption of SAGE financial software.
To further the development of renewable energy through community engagement and education we organised several community events and worked with a range of students. These include: a project with Plymouth University design students on Totnes Weir; a summer internship with a student from Exeter University to investigate the potential for the anaerobic digestion of local food waste, which culminated in a community talk; Guest talks at Schumacher; and, the first ever Archimedes Screw Fest.
The income stream from our solar assets, with a welcome bonus from the sale of shares in Dart Renewables to Tresoc members, means that we are on target to make a trading surplus in the current financial year. This will allow a first modest interest payment to members of 2%. Details will be announced at the AGM and payments will be made at the end of our financial year in April 2017. This hard won ability to operate profitably is a key milestone for Tresoc and we are keen to celebrate and share this achievement with our members at this AGM. Your continuing loyalty and support during the long haul to profitability has been key to our success.
Come and Take Part
We urge you to come to our AGM, ask questions and help us develop our strategy for the year ahead – we’d like to welcome all of you! Our goal – as always – is that you are aligned with, and endorse the efforts we are making on your behalf.
The Agenda for the AGM can be found here. The Directors’ Report and a summary of our latest Accounts to 31st March 2015 will be available at the AGM or can be down loaded from the website. A signed copy of the Accounts has been submitted to the Financial Services Authority, and copies will be available to members at the AGM.
On entry to the AGM your name will be checked against the Register of Members. Attendees will be required to vote on society business. We would be grateful if you could let us know if you plan to attend; Click here to RSVP online. Alternatively, if you are unable to attend and, wish to nominate a proxy, please find a Proxy Voting Form along with the AGM Agenda on the website.
Member Communications
In order to keep you up to date, we do need to have your current contact details. So, if there are any changes to your address, email address or phone number please do let us know. You can also find on the website all the latest news on our projects, press releases and newsletters, as well as full copy of the Society’s Rules.
If you have any queries regarding any aspect of your investment or TRESOC in general we are always happy to help. You can contact us by telephone 01803 867431, email admin@tresoc.co.uk or via our website, and we’d be pleased to hear from you if you feel you could offer some of your time and/or skills to help develop the Society.
So that just leaves us to say thank you for helping to empower your community by being part of TRESOC.
We look forward to seeing you on 30th November.
by tresoc | Mar 3, 2015 | Membership
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.
View the minutes of the AGM and Director’s Report.
by tresoc | Oct 9, 2014 | Latest TRESOC News
Tresoc investors will know from our Prospectus that the Society is looking to raise £500,000 to £1,500,000 to fund a portfolio of hydro and solar projects. To date we have raised some £200,550, which is no small sum, but the income from this level of investment is not enough to cover our annual operating costs (admin, insurance, accountancy etc) even without paying directors. However, we are in discussions with Charity Bank with regards to a loan facility that might allow us to fund our projects and establish Tresoc as a viable business. We are very pleased to be working with this specialist lender whose aims fit well with our own, and who offer flexible loans and support to social enterprises. Please see Charity Bank’s website for more details.
We have met the Bank’s representative and on 29th September submitted our application for a loan that we could draw down, as and when needed. The application process is expected to take 6 to 8 weeks. During this process the bank will be determining whether, and on what terms, a loan may be made to us, and the Board will look in detail at our finance projections to ensure that any loan terms we agree fit with our aims to be a sustainable, growing organisation, paying a return on our members’ investments.
Meanwhile, the Board, in consultation with members, has decided to keep the share offer open on the terms outlined in the Prospectus, until such time as we have a decision on the Charity Bank loan. If we are successful in our application, the full details of the implications of the loan, and what it will allow us to achieve, will then be communicated with our members.
All monies received through this share offer are held in a dedicated deposit account and will be repaid in full if we do not raise sufficient capital to establish Tresoc as a going concern. There is still time for old and new members to invest in Tresoc and now is the time to show your support for renewable energy in community ownership.
Please call us 01803 867431 or email admin@tresoc.co.uk if you would like to discuss this or any other aspect of Tresoc.
by tresoc | May 28, 2014 | Membership
When we set up the IPS – based on our understanding of ‘Community of Place’ – we marked out an area of shareholder benefit (vs. operation) as Totnes and its fifteen surrounding parishes. Download a pdf of our original Boundary_map However, per member agreement at a Special General Meeting held on May 22, 2014, this reach broadened to a wider ‘Community of Interest’ described as ‘the community centred in Totnes and the surrounding area’.
A quick bit of background on that…
After extensive discussions and analysis of our financial modeling for TRESOC’s 2014 Share Issue, the Board have decided that the most appropriate way to raise finance is through share capital, or equity, rather than shares plus bonds. As a natural follow-on from this decision – and in order to increase our potential for raising this share capital – came the proposal to remove the Totnes and Environs boundary, so as to invite people from just outside the boundary and further afield to become members.
This will also allow those directly involved in the projects, but who live outside the 15-parish boundary, to become members, e.g. South Devon Rural Housing Association’s residents and board. It also gives us the opportunity to build awareness and support for Community Energy in the areas where our projects are located, e.g. Torquay Museum. We also have a growing list of people who have an interest in the area (ex-residents, would-be residents, frequent visitors, friends and family) who would become eligible.
You can access a copy of the minutes of this Special General Meeting here.
