Bath  &  West  Community  Energy  

G E N E R A T I N G   L O C A L   E N E R G Y    

Peter  Capener   :  Cha i r  

September  2012  

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                     …...set  up  as  a  Community  Benefit  Society  in  2010  

Where  we  started  in  2009  …….  

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Community  benefit  at  centre    Do  the  easy  things  first    Financial  sustainability    Be  ambitious  and  build  scale    Offer  financial  as  well  as  social/environmental  dividend            

Recurring  themes  in  early  discussions……  

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“Our  vision  is  to  create  a  financially  sustainable  social  enterprise  that  will  deliver  renewable  energy,  energy  efficiency  and  energy  

supply  via  strong  community  model  that  builds  community  resilience.”  

 

Bath  &  West  Community  Energy  

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Our  mid  term  targets....  

 

2014-­‐2015    •  6MW  of  projects:    solar  (1.8MW),    

wind  (3MW),  Heat  (0.8MW)  and  hydro  (0.4MW)  

•  £11  m  raised  in  debt  and  equity  

•  £275k/year  to  Community  Fund  on  average  

 

Performance from 8 solar schools – 284kW

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• Raised  £1  million  loan  finance  from  SSE  

• Successful  EIS  approved  share  offer  -­‐  Raised  £750,000  from  nearly  200  members  

• Installed  362kW  Solar  PV  on  10  schools  and  community  buildings  

• Installed  250kW  Solar  PV  system  linked  to  a  business  park  

• Paid  members  7%  interest  in  first  year  

• Established  an  important  and  valuable  co-­‐operation  agreement  with  B&NES  Council  –  secured  £100,000  grant  

• Successful  energy  efficiency  in  schools  project  under  LEAF  

• Identified  potential  wind  &  hydro  sites  

 

Achievements  in  2011/12……  

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How  we  operate….  

   

Individual  investors  -­‐  £20k  maximum.  Investment  goes  

into  projects  

Local  community  enterprise  operating  as  part  of  BWCE  family.  Controlling  community  fund  from  local  

projects.  

BWCE  –  Develop,  Finance,  Own  &  Operate    

Renewable  Energy  Projects  

Development  loan/grant  

Individual  investors  

Debt  from  corporate  investors  and  banks  

Special  Purpose  Vehicles  (SPVs)  -­‐  Portfolio  of  projects  of  same  technology  invested  

at  same  time    

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What’s  worked  well  •  Partnerships    

•  SSE  •  B&NES  •  Carbon  Leapfrog  

 •  Development  work    •  Share  offer  

•  Momentum    •  The  team  

 

….still  to  do  •  Secure  medium  scale  bank  

finance  

•  Help  establish  partner  community  enterprises  

•  Secure  more  development  finance  

 •  Integrate  energy  efficiency    

•  Become  financially  sustainable!      

Reflections…….