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Part of the 'Bringing Power to the People: starting your own community renewable energy project' workshop held at the Transition Network Conference 2012, London, UK. Presented by Chris Rowland of OVESCO, Peter Capener of Bath and West Community Energy, Allan Shepherd, author of "The Home Energy Handbook", and Frank Gordon of Westmill Solar Cooperative. Chaired by Peter Lipman of Transition Network.
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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…….